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The 2023 Met Gala theme will be honoring the late Karl Lagerfeld.

Michaela Coel, Penélope Cruz, Roger Federer, Dua Lipa and Anna Wintour are the co-chairs of the event, which takes place on May 1.

The dress code was announced on Wednesday and will also honor Lagerfeld, who worked at Chanel, Fendi and Chloe, and died in 2019 at age 85.

The theme, which was announced last year, comes from the accompanying exhibit at the Met’s Costume Institute. "Karl Lagerfeld: A Line of Beauty" will gather some 150 of his creations to explore his "stylistic language." Lagerfeld’s original sketches will also be on display.

Karl Lagerfeld

The late Karl Lagerfeld will be honored at the 2023 Met Gala on May 1. (Ian Gavan/amfAR12)

ICONIC FASHION DESIGNER KARL LAGERFELD DEAD AT 85

Vogue's theme announcement in September 2022 was met with mixed reactions from both fans and stars including, Jameela Jamil who shared her thoughts on the Lagerfeld-centered night.

"This man… was indeed, supremely talented, but used his platform in such a distinctly hateful way, mostly towards women, so repeatedly and up until the last years of his life, showing no remorse, offering no atonement, no apology, no help to groups he attacked… there was no explanation for his cruel outbursts," Jamil wrote in part on Instagram at the time.

The actress included in her Instagram post screenshots of several comments in which Lagerfeld gave controversial quotes.

Penelope Cruz

Penelope Cruz will co-host the 2023 Met Gala. (Pierre Suu/WireImage)

Dua Lipa

Dua Lipa will also host the 2023 Met Gala. (Getty Images)

The Lagerfeld gallery at the Met will also be on display to the public from May 5 through July 16, 2023.

The iconic night in fashion started in 1948 as a society midnight supper, and it wasn’t even at the Met.

Fast-forward 70-plus years, and the Met Gala is something totally different, one of the most photographed events in the world for its head-spinning red carpet — though the famous carpeted steps of the Metropolitan Museum of Art aren’t always red. 

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Not to forget, the Met Gala is still a fundraiser — in 2021, the evening earned more than a whopping $16.4 million for the Met's Costume Institute.

Michaela Coel

Michaela Coel will attend the 2023 Met Gala as a co-host. (Raymond Hall/GC Images)

Roger Federer

Roger Federer will also host the 2023 Met Gala. (Michael Loccisano/WireImage)

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The 2022 Met Gala featured Regina King, power couple Blake Lively and Ryan Reynolds, and Lin-Manuel Miranda as the co-hosts.

The Associated Press contributed to this report