Olivia Palermo attends Louis Vuitton's Munich opening

Olivia, do you ever have a fashion "no" moment? Model and "it" girl Olivia Palermo recently attended the Louis Vuitton Maison Opening in Munich, Germany, wearing a dropped-waist shift from the designer's Resort 2013 collection with Zara heels, a bold ring and chain-link gold bangles on both wrists. Her accessories completed the look, but the shift took center stage with its over-the-top Peter Pan collar and all of the embellished pockets. As always, Palermo pulls off even a quirky jacket-tunic-shift dress with effortless class, and stands petite and pretty next to her handsome model-boyfriend, Johannes Huebl.

According to In Style, more is more with this particular look. While less can be equally lovely, Palermo knows just how to accessorize a piece that may seem like too much to some fashionistas and make it glide stylishly across the red carpet.

So who wouldn't want to take some fashion pointers from the most chic socialite in New York City? Cosmopolitan magazine recently caught up with Palermo at the launch event for Alizé COCO Pineapple and COCO Peach to find out just what kind of fashion rules reign in the world of the former star of MTV's "The City." According to Palermo, making a statement is often what fashion's all about.

"A statement piece of jewelry, like a cocktail ring or great bracelet is something you can wear every day to add a polished touch," she told the magazine.

Palermo also encourages adding color to your wardrobe in the upcoming months, as "it's everywhere" in stores across the country. 

You can try incorporating both of the New York City lady's style tips into one by finding a colorful statement piece to wear day to day. An accessory like the Turquoise-Colored Lucite Bib Necklace And Cluster Earrings Set In Goldtone is perfect because you can choose to wear the earrings with jeans and a tank or the bold necklace with a chic work outfit.