European designers are hunting big game -- and big names -- on the just announced Oscar nominees list. Karl Lagerfeld of Chanel has a lock on “Babel” babe Rinko Kikuchi, whom he has dressed for every event this season. Donatella Versace is coming to L.A. soon to wine, dine and woo nominees and presenters while picking up her Rodeo Drive Walk of Style Award on Feb 8.

But Giorgio Armani has his sights on the Oscar’s big fashion tuna, Cate Blanchett, the most indefatigably stylish actress this season. She is Oscar-nominated for Best Supporting Actress in one of her three outstanding films in contention this year: “Notes on a Scandal.”

Armani told WWD “I think we are going to dress her” and that “She is a modern woman.. and one of the most talented and inspirational actresses in Hollywood….” 

According to a piece by Marcy Medina in the intrepid fashion publication, Cate and her stylist Elizabeth Stewart flew from New Orleans (the set of “The Curious Case of Benjamin Button”) on Armani’s private jet to attend his show in Paris.

I’d say it’s a safe bet that Cate will find something in his couture atelier that she might like to wear at the Oscars. And it's dead certain that Katie Holmes and her Velcro-BFFF (Best Female Fashion Friend) Victoria Posh Beckham, will be wearing Armani to lots of Oscar parties. Here are the couture shopalohics at the opening of Armani's boutique on Avenue Montaigne in Paris yesterday.

My theory is that Katie may be a O presenter this year. Hey, stranger things have happened.

At any rate, both girls and their famous hubbies are sure to be at the  Vanity Fair post party.  It’s also been rumored that Armani (Okay, Andre Leon Talley of Vogue let it slip) may come to the Oscars this year. He hasn’t been to the Oscars since he won the first Rodeo Drive Walk of Style award in 2003.

Stay tuned. The Oscar fashion battle is heating up.

Photo Credits: Cate Blanchett is Armani's new Oscar model. At least, that's what he says.
Steve Granitz/WireImage
Photo Credits: At the opening of Armani's Avenue Montaigne boutique: Roberta Armani, Giorgio, and Hollywood's new uber-couple Katie Holmes and Victoria Beckham. Wanna bet these two will be at the Oscar parties wearing Armani?
Lorenzo Santini/WireImage