Produced in partnership with Swarovski, the event saw 4,000 members of the industry and public gather within the storied venue.
A-list actors like Salma Hayek Pinault, Kate Beckinsale and Jared Leto, and fashion heavyweights, including Naomi Campbell, Anna Wintour, Kate Moss and Tom Ford, climbed the red-carpeted stairs to the entrance; and award-winning musicians Lady Gaga, Skepta and Marilyn Manson all presented awards.
Formerly known as the British Fashion Awards, the new, shorter moniker signals the BFC's emphasis on celebrating global talent.
Recipients spanned the breadth of design experience, from Molly Goddard -- the young designer who won the British Emerging Talent award -- to Ralph Lauren, who was recognized with the Outstanding Achievement in Fashion Award after 50 years in the business.
A full list of all the recipients can be found here. Here are some of the highlights:
1. Simone Rocha took the crown
Jonathan Anderson was the reigning British Womenswear Designer of the Year and, arguably, this year's favorite. But Simone Rocha -- known for her experimental, darkly feminine aesthetic -- sparked a huge cheer when she took the title instead. Rocha had previously won the British Fashion Award for Emerging Talent in Womenswear in 2013.
2. Bruce Weber quoted Bruce Springsteen
After American photographer Bruce Weber was given the Isabella Blow Award for Fashion Creator by fellow photographer David Bailey, he provided the only musical nod in the ceremony, riffing on Bruce Springsteen's 1985 hit "I'm on Fire" during his speech.
3. Marilyn Manson surprised and delighted
Adding some much-needed rock 'n' roll to proceedings, Marilyn Manson presented the award for International Urban Luxury Brand to his friends Demna and Guram Gvasalia from Vetements.
He attempted to inject some energy into the crowd with a few drug-related jokes muttered under his breath.
Earlier in the ceremony, British comedian and master of ceremonies Jack Whitehall jokingly thanked Satan that he and Manson hadn't worn the same outfit.
4. Gigi Hadid cried
Supermodel and Instagram star Gigi Hadid took the award for International Model, beating Kendall Jenner and her sister Bella, amongst others. Hadid, who choked up as she thanked the industry for embracing her, gave one of the most emotional speeches of the evening.
5. Jared Leto and Alessandro Michele are expecting
Gucci was the big winner of the night, with president and CEO Marco Bizzari taking home the award for International Business Leader, and creative director Alessandro Michele taking International Accessories Designer. Friend and campaign star Jared Leto announced the award, joking that he and Michele were "expecting."
6. Lady Gaga tripped Craig Green...sort of
Lady Gaga emerged in a surprisingly simple outfit to present the award for British Menswear Designer to 30-year-old designer Craig Green. Historically, the category has been dominated by more established brands, so Green's victory reinforces the BFC's focus on youth and innovation this year.
As he went to give his acceptance speech, the designer seemed to trip on Gaga's long cape as he walked past. Blink and you would've missed it.
7. Ralph Lauren forgot his award
Footballer, fashion model and all-round nice guy David Beckham handed American designer Ralph Lauren the Outstanding Achievement Award after the crowd was treated to a film documenting Lauren's 50 years in the business. Beckham then had to grab the award himself after the designer left the stage without it.
Check out the gallery above to see what the stars wore on the Fashion Awards 2016 red carpet.