Way to go, Karl!

Not only did Keira Knightley wear a frothy pink Chanel couture number on the red carpet today at the Venice Film Festival premiere of her Oscar Bait movie, "Atonement" — she was also wearing a second Chanel, a sleek nautical navy and white gown, for her arrival by boat earlier in the day.

Does this mean that Herr Lagerfeld has snagged some prime Oscar fashion real estate? Are we talking moola and contracts? Remember, Karl lined up "Babel" star Rinko Kikuchi early on last year and she wore his designs throughout the 2006 awards season, all the way to the Oscar red carpet.

Plus, I hear that Hollywood superstylist Rachel Zoe, who seems to have recovered quite nicely — thanks for asking — after her abrupt disinvolvement from Nicole Richie, is now dressing the lovely Keira.

Expect to see great things from this fashionable trio in the upcoming Oscar season. Just don’t expect Keira to gain any weight.   

Photo credit: WireImage

Posted by:Elizabeth Snead