Last night was the opening of the new Armani megastore on New York’s Fifth Avenue.

Designed by Italian architects Massimiliano and Doriana Fuksas, the 4,000-square-metre with the sinuous and futuristic spiral staircase in cream-coloured cement, had already been called by the Mayor Bloomberg as “Guggenheim Two”.

”This is not just a great architectural masterpiece but is also a vote of confidence in the future of New York as a fashion capital,” Bloomberg added at the opening.

This new Armani store held an exclusive party to celebrate the opening of Armani’s latest piece of Manhattan real estate.

A host of celebrities were present at the event included Leonardo DiCaprio, Alicia Keys, John Mayer, Josh Hartnett, Milla Jovovich, Molly Sims, Ricky Martin, celebrity stylist Rachel Zoe, Victoria Beckham, and a pregnant Mira Sorvino.

Armani created a “capsule collection” that will be available only in the Fifth Avenue, and some lucky celebs already wore it last night.

Giorgio Armani also renounced the fashion show and celebrity dinner in favor of a $1 million donation to the Fund for Public Schools.

The money will be used to nurture arts programmes in Bronx public schools and the Italian fashion designer said he hoped the money would ”give young kids a chance to dream”.