Lily Collins Dazzles in Daring Cut-Out Dress

posed up a storm as she arrived at the PaleyFest LA 2026 red carpet for 's Emily in Paris in .

The actress, 37, looked flawless in a daring number for the event, which took place in Hollywood on Friday.

Walking the carpet at the Dolby Theatre, Lily showed off her physique with an eye-catching side cut-out that exposed her waist.

The burgundy velvet evening gown featured an asymmetric, one-shoulder design.

Lily completed her look with a pair of black pointed heels.

The star was proudly wearing her engagement ring after she confirmed she had been reunited with the item three years after it was stolen. 

She was devastated after the 'exceptionally rare' item was swiped during her stay at the West Hollywood EDITION Hotel on Sunset Boulevard in 2023. 

Lily had placed the engagement ring - specially designed by her husband, filmmaker Charlie McDowell and understood to be worth more than £65,000 - in storage at the venue. 

When she returned, the Emily In Paris star found her belongings had been swiped, but there was no sign of forced entry. 

Last month Lily shared a selfie to fans on social media as she showed off the ring following its return.

She wrote: 'So grateful to @joethejewelerchicago for helping recover my original engagement ring after it was stolen almost three years ago.

'Having this home means SO much to us. I'm still speechless it's back on my finger.'

Lily and Charlie McDowell - the son of actor Malcolm McDowell - confirmed their engagement in September 2020, after meeting on the set of his film Gilded Rage the previous year. 

They exchanged vows in an intimate wedding ceremony in Dunton Hot Springs, Colorado, in September 2021.

Meanwhile, Lily recently shared an insight into her work-life balance with Charlie and their daughter Tove. 

She put on a loved-up display with Charlie as they doted on their 13-month-old daughter who they welcomed via surrogate.

The pair looked every inch the proud parents in the sunny snaps while Lily also gave a glimpse at some recent work projects.

One snap also saw her showing off her toned figure in a black tennis outfit as she got some exercise.

She penned in the caption of her post: 'Work life balance...'

Daily Mail previously revealed how Lily is planning to move from Los Angeles to London with her husband and their daughter.

Sources say she has been eyeing up a return to Britain since 'falling in love' with London during her 12-week run in the West End thriller Barcelona over Christmas in 2024.

A source said: 'Lily grew up in the English countryside with many happy memories and she wants the same for her daughter.

'But instead of the countryside, she has fallen in love with London because that's where she has lots of friends and family.

'She is particularly taken with the north, like Hampstead and Queen's Park.'