The 2006 CFDA Fashion Awards

Singer and actress Jessica Simpson poses for photographers on the red carpet of the 2006 CFDA Fashion Awards in New York City June 5, 2006.

Francisco Costa, Thom Browne and Tom Binns are the top fashion designers of the year, taking home the big prizes at Monday night's Council of Fashion Designers of America awards.

Costa was named womenswear designer of the year three years after taking over creative duties at Calvin Klein from the company's namesake designer. Klein won the award in 1993 and 1987.

"If there's an American dream, this is it for me," said Costa, who grew up in Brazil's countryside.

He beat out perennial nominee Marc Jacobs, who did win the womenswear award in 1997, and Lazaro Hernandez and Jack McCollough of Proenza Schouler, who had been picked as the best up-and-coming designers only three years ago.

Meanwhile, Browne was selected over Cloak's Alexandre Plokhov and Ralph Lauren for menswear designer. Browne told the crowd, which included Janet Jackson, Jessica Simpson, Chloe Sevigny, Sandra Oh and Sean "Diddy" Combs in addition to top fashion designers Vera Wang, Diane von Furstenberg and Donna Karan, that Lauren was an inspiration to him — and to so many others in the room.

Harry Connick Jr. gave Browne his trophy, putting on Vogue editor-in-chief Anna Wintour's signature sunglasses and holding her tiny handbag to prove his fashion credentials. (He is also married to model Jill Goodacre.)

The CFDA awards are the fashion industry equivalent of the Oscars. Jeremy Piven, star of HBO's "Entourage," was the host of the 24th annual ceremony.