Chanel's Little Black Jacket finally arrived in London last night with a glittering private opening party at the Saatchi Gallery, where the exhibition will remain until October 28.

Despite the pouring rain, London's finest showed up to see the exhibition celebrating Chanel's iconic black jacket. Set over 4 rooms, The Little Black Jacket consists of 113 black and white photographs shot by Karl Lagerfeld and styled by Carine Roitfeld, featuring some of the best known – and some perhaps a little more unknown - faces from the world of fashion, design, art and music, each wearing the jacket in their own individual ways.

The design of the jacket may be decades old, but at the party last night, it proved to be as current and fashionable as ever, with many of the invitees proudly sporting their Chanel jackets. The youngest guest of the evening, actress Chloë Moretz, proved that even at just 15 years old, there is simply no age limit to being able to wear a true classic, as she wore hers with simple black trousers and crisp white shirt. Other famous faces included Eva Herzigova, Yasmin Le Bon, Poppy Delevigne, Tallulah Harlech, Bip Ling, Henry Holland, Laura Bailey, Zaha Hadid, Lou Doillon and Noomi Rapace, to name a few, as well as appearances by Karl Lagerfeld and Carine Roitfeld.

Model Alice Dellal, with her trademark punk rock style considered a true London Girl, possibly embodies the versatility of the jacket the most. Wearing a simple white Chanel dress and jacket last night, her portrait in the exhibition personified just how this iconic piece always seems to adapt to the wearer. As she posed with her picture, her mother Andrea Dellal proudly looked at her daughter's picture and exclaimed: “See? A little black jacket works for everyone! There's never a bad way to wear it!”

And it's not just women who have been falling for Chanel's iconic jacket over the years, with many men featured in the show as well. Designer Haider Ackermann and actor Waris Ahluwalia, whose photographs are part of the exhibition, last night happily professed their love for the jacket.

The posters to take away proved to be a big hit with the guests, who queued to take home copies of the black and white photographs of Lily Donaldson, Georgia May Jagger and Astrid Bergès-Frisbey.

If there's one thing to learn from the Little Black Jacket, it is its timelessness and versatility. It simply seems to work for everyone – whatever your age, whatever your gender, whatever your style – a fact certainly visible both with the portraits as with the guests last night. A highlighted quote on a dark wall at the back of the exhibition explains its allure perfectly in just one sentence: “There are clothes which keep rejuvenating themselves instead of getting worn out.” The Little Black Jacket does exactly that. Go see it before it goes again!