VIDEO: Katie Holmes & More in PROJECT RUNWAY ALL STARS Promo

In fashion, one day you're in and the next day you're out. But sometimes you're given a second chance to make it work. PROJECT RUNWAY ALLSTARS is back for a second season with a brand new cast. Get a sneak peek below!

We're giving thirteen designers from earlier seasons the chance to return to the workroom for another shot at the "Runway" title and the biggest prize in the show's history. Since their respective seasons ended, these designers have created new lines, shown at New York Fashion Week, earned award nominations, landed celebrity clients, and honed their skills and aesthetics. It's a recipe for fierce competition if I've ever seen one.

Season One judges Isaac Mizrahi and Georgina Chapman and mentor Joanna Coles will be joined by a new host, supermodel Carolyn Murphy, as well as an awesome selection of guest judges that includes Katie Holmes, Kylie Minogue, Diane Von Furstenberg and Jason Wu.

The new season premieres tonight, Thursday, October 25 at 9.8c.