The transformation is complete:

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Katie Holmes stunned in a bright red Alexander McQueen dress with gold accessories at Madonna's Gucci/Unicef/Malawi event at the United Nations in New York last night.

gwynethpinkgucci.jpgGwyneth, in Gucci, looked like she was wearing one of the rejects from Project Runway's prom challenge. Someone shoulda pulled a different pair of shoes off the Bluefly Accessories Wall!

jlobrowngucci.jpgJ. Lo was all big hair, big belly and big shoes, dwarfing her husband in her brown belted Gucci gown and platform sandals.

Katie Holmes gwengavingucci.jpgGwen, with her hot hubby in a in a black cut-out gown, is just starting to show!

More pix below