Style star Margaret Qualley stuns in reverse necklace on the Oscars red carpet

While some people are tuned into the Oscars to see which of their favorite movies are honored with awards, others are only tuned in to see who wears the most beautiful looks on the red carpet and beyond. One of the most talked-about looks of the night came from Margaret Qualley, who showed up on yet another carpet in head-to-toe Chanel.

For the 2025 Oscars, The Substance actress stole the show, wearing a gorgeous backless Chanel gown paired with a backwards diamond necklace. Ahead of presenting an award this evening, the star walked the red carpet in a custom black silk velvet Chanel gown  with a chic boatneck front and a sweeping open back. 

The look was inspired by the design house's Spring-Summer Ready-to-Wear 2005 collection, according to Town & Country, highlighting the revealing back detail with a dangling Chanel necklace and matching earrings.

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Qualley has made quite the impression this awards season following her standout role in the horror film The Substance, which earned her Best Supporting Actress nominations at the Critics Choice Awards and Golden Globes. While she's not nominated at The Academy Awards, the movie is up for five awards, including Best Picture, Best Directing, Best Screenplay, and a career-first nod for Best Actress for Qualley's co-star Demi Moore.

“I'm like everybody else—I've been a big fan of Demi's for a long time," Qualley told People of her co-star. “I read her autobiography and I think Demi's one of those people where she's very open and warm, so she makes you feel like you know them right away. That was my experience.”

Margaret also spoke to IndieWire about The Substance’s Oscar potential, saying, “I would love for it to be [Oscar-nominated], and I think that Demi’s performance certainly deserves for it to be. It would be spectacular if she were the one to make space for that genre within the awards circle. I’m not, like, the master of categorizing films, but I will say that this movie is visceral and nightmarish.”

Qualley was also joined on the red carpet by her husband, Jack Antonoff. The Bleachers singer, who got married to Qualley in August 2023, let his other half shine in most of the photos, but joined for a few to show off their matching style. To match Margaret's velvet black dress, Jack wore his signature black framed glasses with matching loafers, which he paired with striped pants and a grey suit jacket.