Nicole Richie was a keynote speaker at Teen Vogue's 7th Annual Fashion University in New York City on Friday. The event gives 525 lucky young fashion industry hopefuls the opportunity to take a three-day crash course in the business.

OK! GALLERY: NICOLE RICHIE CHANNELS SIXTIES GLAMOUR AT THE FIFI AWARDS IN NYC

Nicole is the creative director behind both of her wildly successful and celebrity-favored brands, House of Harlow 1960 and Winter Kate. The Fashion Star judge rocked velvet (an of-the-moment trend) in he form of a drapey dress and kept her hair and makeup clean and simple.

OK! GALLERY: NICOLE RICHIE PROMOTES FASHION STAR AT THE GROVE IN L.A.

Nicole chatted with Amy Astley, Teen Vogue's Editor-in-Chief, about the biz, and gave tips on how to be successful.

"Thank you Fashion University & everyone who came to the seminar! Perfect morning xx," Nicole Tweeted later. Sounds like the event was a hit for everyone!

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