On November 28, 1973, the world's social elite gathered at the Palace of Versailles for an international fashion show. By the time the curtain came down on the evening's spectacle, history had been made and the industry had been forever transformed. This is that story.

Conceived as a fund-raiser for the restoration of King Louis XIV's palace, in the late fall of 1973, five top American designers faced off against five top French designers in an over-the-top runway extravaganza. An audience filled with celebrities and international jet-setters, including Princess Grace of Monaco, the...