Credit: Carlos Alvarez/Getty; Steve Granitz/

Orange you glad?

The fashion and design world is going nuts over Pantone's Color of the Year for 2012: Tangerine Tango.

"Sophisticated but at the same time dramatic and seductive, Tangerine Tango is an orange with a lot of depth to it," Leatrice Eiseman, executive director of the Pantone Color Institute," said in a statement. "Reminiscent of the radiant shadings of a sunset, Tangerine Tango marries the vivaciousness and adrenaline rush of red with the friendliness and warmth of yellow, to form a high-visibility, magnetic hue that emanates heat and energy."

The bold, red-orange shade succeeds 2011's pretty-in-pink color, Honeysuckle.

Although the corporation announced the news in December, celebrities have been rocking the bold, eye-popping hue for a few months now.

At the 2011 MTV Video Music Awards, Beyonce wore a gorgeous, draped Lanvin gown as she showed off her brand-new baby bump in Los Angeles August 28.

Nikki Reed (who's been known to sport Tangerine Tango-inspired lipstick) brightened up in a Michael Kors boucle shift at the Breaking Dawn - Part 1 premiere in Madrid, Spain October 28.

Click here to see more celebs who prove pulling off this bold color is a cinch.