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Rachel Bilson and Blake Lively joined French actress Clemence Poesy (Chuck’s European GF on Gossip Girl) to take in Chanel‘s 2011-12 Cruise collection in Cannes, just two days before the film festival opens.

“It’s about dressing down these very sumptuous looks, about easy elegance,” the label’s designer Karl Lagerfeld told the Associated Press about his latest collection.  “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.”

A sea of ivory confections and pearl embellishments poured down the runway as guests lounged under umbrellas to take in all that Lagerfeld had created.

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Lively killed it in a short skirt and sequined blazer, taking pictures of a Mediterranean sunset while waiting for the show to start.