Alexander Wang, Jason Wu and Richard Chai Win the CFDA Swarovski Awards

Last night’s 2010 CFDA (Council of Fashion Designers of America) Fashion Awards was a huge night for Asian American designers, as three of the industry’s biggest emerging talents earned the Swarovski Award, which CFDA states is "where the biggest names of tomorrow make their debut." Jason Wu, the Taiwanese-born designer who rose to instant fame when First Lady Michelle Obama wore his dress during the inauguration, won the much-acclaimed Swarovski Award for Womenswear, beating out designers Prabal Gurung and Joseph Altuzarra. Wu said, "I was so nervous, I asked Rachel [Weisz] for advice. She told me, 'Just breathe.' I think it was her red lipstick. Red is good luck in Chinese culture."

Fashion wunderkind, Alexander Wang, who previously won the CFDA/Vogue Fashion Fund in 2008, took home the Swarovski Award for Accessory Design. Meanwhile, Korean American designer Richard Chai, who helped launch the Marc by Marc Jacobs men’s collection before his eponymous line, earned the Swarovski Award for Menswear. And speaking of Marc Jacobs—he finally put an end to his four-year losing streak and took home the prestigious Womenswear Designer of the Year Award, which he hasn't won since 1997.

For a full list of the CFDA winners, click here.

Photo via Vogue.com