February 22, 2016 3:52 PM EST

While millions will tune in to the 88th Academy Awards on Sunday night, many will also be watching the red carpet beforehand, looking for the eye-catching Oscars eveningwear that could inspire fashion’s next big trend.

In 2012, that dress was the white Tom Ford one-shoulder gown with matching cape donned by Gwyneth Paltrow, says fashion designer Misha Nonoo.

“It not only set off a trend,” Nonoo says, “but it just sparked a frenzy for this idea of clean, minimal, pure design.”

Nonoo, fashion designer Roy Luwolt and InStyle magazine fashion news editor Eric Wilson spoke to TIME about three of the most iconic Oscars looks.

Watch the video above to find out more about their top picks.

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