British TV presenter Alexa sported a quirky Pink pale dress for the event - which is being held in the glamorous French city ahead of its world famous film festival, taking place from today (11.05.11) until May 22 - while 'Gossip Girl' actress Blake showed off her new auburn locks.
Blake - who is the face of Chanel's Mademoiselle handbags - and fellow guest Rachel Bilson both opted for outfits that showed off their legs, together with blazer-style jackets while French actresses Vanessa Paradis and Clemence Poesy donned black lace and a gold dress respectively.
Chanel designer Karl Lagerfeld presented the French fashion house's cruise collection, which included a number of swimsuits teamed with pastel trouser suits and large sunglasses.
He said: "This is about the women of Cannes, women who mix bathing suits with real pearls and diamonds. After all, you can't wear fakes into the water."
The French Riviera event also saw American model Kristen McMenamy strut her stuff on the catwalk.