Katy Perry and Carly Rae Jepsen walked the red carpet at New York's Capitale club Friday afternoon at the annual Billboard Women of the Year Awards gala, where both singers were honored for their numerous accomplishments.  Katy was crowned Billboard's Woman of the Year, while Carly Rae received the Rising Star Award.

At the luncheon in their honor, Katy accepted her award wearing a rose-colored, Oscar de la Renta, knee-length dress with ruffles on top and bottom.  She told the crowd, "I'm not a feminist, but I believe in the strength of women...I hope I'm an inspiration to young women."