November 18, 1996 12:00 PM

AS USUAL, THE HOOPLA AT NEW YORK CITY’S ANNUAL Fashion Week spring collections was as much about the guests as the garments. Demi Moore and Laura Dern filled Ralph Lauren’s front row. Elizabeth Hurley and Hugh Grant duetted at Donatella Versace’s Versus show. Over at Todd Oldham, Susan Sarandon and Ricki Lake offered their best oohs and ahhs. “I wear his stuff when I’m not pregnant,” said Lake, who is expecting her first child with illustrator husband Rob Sussman in March. “But right now I don’t fit into any of his clothes!”

On the runways romance reigned, with everyone from Richard Tyler to Anna Sui showing ruffles, chiffon, fishtail hemlines and lace. Of course, fashion being what it is, those extra frills didn’t make the filmy frocks any less revealing. “The clothes are so beautiful,” sighed Bianca Jagger to Entertainment Tonight after the Calvin Klein show. “We just won’t be able to eat anything until the spring.”

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