The Museum of Costume's much-awaited Dress of the Year has finally gone on display.

The outfit by Tom Ford, the new creative director of French fashion house Yves Saint Laurent Rive Gauche, consists of a black satin skirt and off-the-shoulder 'peasant' top of black gauze woven with feathers and velvet, worn with a panne velvet scarf and black leather gladiator-style leather boots.

Each year since 1963, the museum in Bennett Street has invited leading fashion experts to choose an outfit they believe represents the most important new look in contemporary fashion.

This year, the museum sought the opinion of Alexandra Shulman, editor of Vogue magazine.

Explaining her choice, Ms Shulman said: "It combines a soft romanticism with the strength and modernity of the autumn 2001 season in its tough leather boots and overall blackness."

Curator Penelope Ruddock said: "Tom Ford is one of the great names in fashion design just now and his collection is at the cutting edge of French ready-to-wear.

"This is an incredibly generous gift as the outfit retails at over over £6,000."