The Cannes Film Festival is just around the corner, and to celebrate its 15th year as the event’s official sponsor, luxury jewelry house Chopard has made sure its Red Carpet Collection 2012 is one to remember, with designs ranging from classic old Hollywood to extravagant and colorful creations.

Standout fine jewels in this year’s 65-piece Red Carpet Collection comprise a range of cascading diamond necklaces including a floral-inspired variety set with over 1,100 diamonds, pink sapphires, and rubies, while more playful creations include an apple-shaped ring.

Designed to be worn in Cannes, color is key to the collection, which features rubies, emeralds, padparadscha sapphires, tanzanite, kunzite, and diamonds.

According to Chopard co-president and creative director Caroline Scheufele, diamonds are an “indispensable ally for women on the red carpet,” and her “favorite stone”.

The extravagant jewels on display during Cannes are always a major highlight for fashionistas, with the likes of jury member Diane Kruger and Bérénice Bejo, Mistress of Ceremonies for 2012, among this year’s most eagerly anticipated stars poised to grace the red carpet.