The 65th Annual Cannes Film Festival is officially underway -- and we're already seeing some stellar fashion on the red carpet!

Eva Longoria was the first to make a big statement at the Opening Ceremony earlier today, looking downright gorgeous in a Marchesa gown with a crazy long train.

And hers wasn't the only dramatic dress at the event.

Jane Fonda stunned in a glittery pink Atelier Versace, the 74-year-old giving those half her age a run for their money in the slim-fitting gown.

Skin was in as well!

Jessica Chastain put her cleavage on display in a light pink Alexander McQueen number while Freida Pinto showed off her stellar stems in Michael Angel.

Singer Lana Del Rey kept it simple in black, as did Alec Baldwin and fiancee Hilaria Thomas -- who he romantically carried up the stairs!

Also spotted: Bruce Willis, Edward Norton, Tilda Swinton and Ewan McGregor. Check out all the red carpet hits and misses in the gallery above!