Penélope Cruz dazzles in sheer lace gown for star-studded night out – see her massive diamond ring

With the historic SAG-AFTRA strike finally in the rearview mirror, Hollywood’s favorites are finally able to return to the red carpet, and Penélope Cruz did not disappoint with her comeback.

Always one to leave fans breathless with her fashion, the star of the upcoming Enzo Ferrari biopic returned to the red carpet with a bang as she attended the 2023 Gotham Awards in New York City on November 27th.

The glitzy event was also attended by the Oscar-winning actress’ Ferrari co-stars Adam Driver and Shailene Woodley, plus more stars such as Rachel McAdams, Margot Robbie with her husband Tom Ackerley, Greta Lee, Charles Melton, Bella Ramsey, Willem Dafoe, Natalie Portman, and others.

WATCH: All About Penélope Cruz

For her star-studded night out, Penélope, a longtime ambassador for Chanel, looked fabulous in a delicate white lace dress with billowing long sleeves and a button-down detail through its length from the brand’s Fall Winter 2023 Ready to Wear collection.

She paired the look with black high-heeled sandals and a coordinating satin bag, long diamond earrings with Chanel’s signature camelia, a massive matching diamond ring, plus she had her highlighted brunette hair tousled in soft beach waves.

During the event, she was seen affectionately greeting fellow A-Lister Natalie – who herself is promoting upcoming film May December with Julianne Moore – and posing for pictures with her Ferrari co-stars and its director Michael Mann.

© Getty
Penélope always looks fabulous in Chanel

After photos of her stunning Chanel look circulated on social media, her fans were quick to shower it with compliments, with one writing: “Spectacular! Chanel is Penélope and Penélope is Chanel,” as others followed suit with: “I love it!,” and: “How beautiful she is!!!!” as well as: “Gorgeous.”

MORE: Penélope Cruz displays insanely toned legs in a Chanel white mini skirt and blazer

MORE: Penélope Cruz is a jaw-dropping beauty in a sheer black lace jumpsuit

In her upcoming movie, Ferrari, which releases Christmas Day this year, Penélope stars as Laura Ferrari, wife of Enzo Ferrari (played by Adam), founder of the iconic sports car manufacturer. In real life, the two were married from 1923 until Laura’s passing in 1978; Enzo died ten years later.

Penélope Cruz attends the 2023 Gotham Awards at Cipriani Wall Street on November 27, 2023 in New York City© Getty
The actress donned a dazzling diamond ring in the shape of Chanel’s signature camelia logo

Ferrari was founded in 1939, and the highly-anticipated biopic tells the story of how the brand turned itself around from risking bankruptcy during the summer of 1957, and the turning point that was the Mille Miglia 1,000-mile race in Italy.

Patrick DempseyHugh JackmanRobert De Niro, Sarah Gadon, and Jack O’Connell also have roles in the film.

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