Pictures of Drew Barrymore, Rachel Zoe, Emma Stone, Naomi Watts, January Jones at Chanel Oscar Party 2011-02-27 13:29:14

Chanel got into the Oscars spirit last night with a party to celebrate fashion and film at Madeo in LA. Rachel Zoe and Emma Stone were among the stars who pulled double duty and changed up their looks between this bash and the Weinstein soiree. Naomi Watts looked fabulous after attending the Spirit Awards, where she was spotted sweetly holding hands with her best friend Nicole Kidman earlier in the day. Drew Barrymore brought out her boyfriend, Will Kopelman, and she had a big smile on her face all night, perhaps because of her new love. January Jones kept warm in a casual denim jacket during the chilly night. Luckily, the sun is shining on the red carpet for today's Oscars! The big event is just hours away, and we're getting excited with tons of coverage across the PopSugar Network.

We'll be LIVE from the red carpet in just a few hours starting at 3:30 p.m. PST/6:30 p.m. EST, so watch here on PopSugar and follow us on Twitter for breaking news and photos.