Most Stylish New Yorkers 2012: Rachel Roy

Rachel Roy attends the 2012 Party In The Garden Benefit at the Museum of Modern Art on May 22, 2012 in New York City. Charles Eshelman/FilmMagic

Name: Rachel Roy

Occupation: Fashion designer

Signature Style: "Effortless, elegant and exotic" is how the designer — who's dressed famous fashionistas such as Gwyneth Paltrow, Sofia Vergara, Halle Berry and Jessica Alba — describes her own look. "I've never been afraid of taking risks or experimenting with trends but I have learned that not every trend works for me. There was a scrunchy sock phase that I'm glad I moved past!"

Market Watch: The California-born Roy, who landed in NYC after a brief stint in Washington, D.C. for college, scours vintage stores and flea markets for fashion finds. "The 24th Street flea market is where you will find me most weekends. It's my favorite place to find a bargain," says the designer, who reserves splurges for Barney's New York. "They always has something I'm coveting, usually from Celine."

First Lady Fan: The mom of two, 38, applauds Michelle Obama "for experimenting with her look and new designers," she says. "I think she has shown America that individual style is important."

Key Pieces: Although she loves the designs of Givenchy and Tom Ford, Roy's most treasured staples include her hand and body chains ("I love the nod to my Indian heritage and how personal they feel"); a dress from her new Dress Salon collection ("They look great through my obstacle course of a schedule"), and Stubbs and Wooten slippers ("You can customize them — mine are two different patterns and I love that").

Quote: "The great Andre Leon Talley gave me a piece of advice that still guides me every day: 'Darling, you are here because you have a point of view and you need to speak it, no matter the trends or the times, and always stay true to it.'"

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