By peoplestylewatch
Updated March 17, 2011 04:15 PM

Ryan McCune/; Rick Diamond/WireImage

Study up! The new class of nominees for the Council of Fashion Designers of America 2011 Fashion Awards includes some stand-out celebrity pupils. Among the superlatives bestowed upon fashion’s new guard will be the Icon Award, to be presented to Lady Gaga for her role as a “fashion revolutionary impacting style today.” Also recognized are Ashley and Mary-Kate Olsen, whose 4-year-old label The Row garnered them a nomination for the Swarovski Award for Womenswear. “We are particularly proud of each designer nominated for a Swarovski Award,” CFDA Vice President Nadja Swarovski said in a release. “They are the perfect example of emerging American design talent and have displayed a keen sense for the future of fashion.” Other award nominees include star-beloved designers like Alexander Wang and Marc Jacobs, and Michelle Obama favorite Jason Wu. Winners will be announced at the annual CFDA gala, taking place June 6 in New York City. —Justine Harman