Olivia Palermo’s Key Style Rules

 Jim Spellman/WireImage

Since making her Hollywood debut on The City, Olivia Palermo has become quite the fashion star. In addition to landing a spokesmodel role for Carrera y Carrera jewels, the reality TV star is also launching her own style blog later this month.

Not to mention, Palermo, 25, was also named to Us Weekly's 25 Most Stylish New Yorkers in 2010. But besides her natural penchant for style, the star admits that she gets her inspiration from both old (and new) Hollywood.

"Iris Apfel's style is electric and unique while Audrey Hepburn redefined elegance, class and glamour. I love the way the Hepburns — both Katharine and Audrey — dressed. But I also admire modern-day women, like Gwyneth Paltrow and Victoria Beckham."

As for her own attire, Palermo steps out in everything from colorful frocks to polished minis. "I love flouncy skirts!" the chic socialite tells Us. "Color is always something I look for when dressing. I tend to always complete my look with great accessories."

While Palermo dons everything from Valentino and Besoni to Diane von Furstenberg and Zara, she follows one key rule for curating a wardrobe: "Splurge on key pieces you can grow into as you get older," she says. "I invest in classics like a Cartier watch and a vintage Valentino dress."

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