When Anne Hathaway stepped onto the red carpet at the Oscars Sunday, many people were left scratching their heads at the simple, 'are-they-or-aren't-they-nipples,' baby pink column dress she donned for arguably the biggest night of her career.

One of those people was fashion icon and Hathaway's good friend Valentino, who had designed an embroidered high-neck tulle gown that Hathaway was set to wear.

Now the Best Supporting Actress winner is apologizing to Valentino, and explaining exactly why she made the last-minute decision to ditch a fashion house that has dressed her in numerous gowns before -- including her wedding dress.

"It came to my attention late Saturday night that there would be a dress worn to the Oscars that is remarkably similar to the Valentino I had intended to wear, and so I decided it was best for all involved to change my plans," said Hathaway in a statement to People magazine.

The dress in question, according to US Weekly, was the silver-grey Alexander McQueen creation her "Les Mis" co-star Amanda Seyfried wore on the red carpet.

Hathaway stressed that she did not mean to offend Valentino. "Though I love the dress I did wear, it was a difficult last-minute decision as I had so looked forward to wearing Valentino in honor of the deep and meaningful relationship I have enjoyed with the house and with Valentino himself. I deeply regret any disappointment caused."