No dull political fund-raiser this past weekend for former First Daughter Chelsea Clinton. Instead, she was ringside with Gwyneth Paltrow and Madonna at the Paris fashion show for Donatella Versace's latest spring/summer collection. Clinton, who turns 22 next month, has also eschewed her student guise for something far more chic. Her new look, consisting of a sexy short and straight hairdo and elegant dark pantsuit, made it to front pages on both sides of the Atlantic on Tuesday. In New York, news programs even held up the copy of the morning's Daily News to show off the "new" Chelsea. According to that paper, Clinton's trademark frizzy curls were dealt with in the salon of the Paris Ritz Hotel, where makeup artists also went to work. (Paltrow and Madonna also were tended to in that salon, reports the News.) At the show, the paper says, Clinton traded air kisses with Boy George and Sheryl Crow, though she spent most of the time chatting with her seatmates. Clinton, quoted by the Associated Press, said of the Italian designer's unveiling: "I loved the colors." Also accompanying Clinton, who is currently studying at England's Oxford University, is her steady boyfriend and classmate, Ian Klaus, who, like Chelsea's father, is a Rhodes scholar. The two made quite a pair at the post-fashion show party held at La Cantine, a Paris hot spot. There Chelsea donned a slinky, cleavage-baring outfit -- and had the paparazzi flashbulbs blazing.

Check out our photo gallery of Chelsea and other celebs at the Versace show.