It's got a hum of that dress Scarlett O'Hara wore to that ball in the opening scenes of Gone With The Wind, only droopier. Never a good thing.
The Dark Horse hitmaker was presented with the honour, in recognition of her efforts to - wait for it - "empower women across the world" and her huge success in the music industry, by Kylie Minogue at the glitzy ceremony at One Embankment in London last night.
The Voice UK coach, 45, was clearly thrilled to meet the 29-year-old star as she shared a photograph of them at the event on Twitter shortly afterwards, writing: 'I presented the 1&only @katyperry with her @ELLEUK Woman of the Year award. Con-grats and con-kittens!! (sic)'
Meanwhile, Thor star Tom Hiddleston, 33, was named the magazine's Man of the Year and sent a video message expressing his gratitude, as he was unable to attend the event.
Other big winners were Lily Allen and Tinie Tempah, who were named the female and male UK Recording Artists of the Year.
Happy hitmaker and Oscar-nominee Pharrell won the International Recording Artist trophy, while 'Harry Potter' star Emma Watson, 23, was named Actress of the Year. Because she was in that memorable film.
Suki 'Blue Steel' Waterhouse, who met her boyfriend Bradley Cooper at the awards last year, was named Model of the Year, while top fashion photographer David Bailey was honoured with a Lifetime Achievement gong.
Aaaaaaaaaand Jessie J turned up as a New Jersey hooker who went to Vegas for the weekend and never left... bet her legs looked mangled when she took them off at the end of the night. Ouch.
Full List of Winners:
UK Recording Artist Female: Lily Allen
British Designer of the Year: Christopher Kane
ELLE Model of the Year: Suki Waterhouse
UK Recording Artist Male: Tinie Tempah
Accessory Designer of the Year: Kate Hillier
ELLE Man of the Year: Tom Hiddleston
Red Carpet Designer of the Year: Emilia Wickstead
Contemporary Designer of the Year: Isabel Marant
Fashion Innovator: Nicola Formichetti for Diesel
International Recording Artist: Pharrell Williams
Actress of the Year: Emma Watson
Lifetime Achievement: David Bailey
ELLE Woman of the Year: Katy Perry