The label Azzaro was founded by Loris Azzaro in 1962 when he moved to Paris. Just a few years later he had huge success both in the world of fashion and in the world of frangrances. His clothes were famous for daring cut outs and ornate beading and was usually worn by the elite French society. A year after Azzaros death, in 2004, fellow French designer Vanessa Seward took over at the head designer.
Well... I can't say whether Maria Teresa is wearing Azzaro for the fashion show, which in my humble opinion is highly likely. But I can only hope that she hasn't bought any other of those dresses, it is, um, interesting to say the least. Madame s'il vous plaît, just stick to our common love Elie Saab, oh, and I won't mind NATAN ever again...
A small gallery of the fashion show can be found at Tageblatt. Another picture is available at mywort.lu, an additional gallery of photos at Le Quotidien and on the official website.
Sources: Croix-Rouge luxembourgeoise, Tageblatt, Wikipedia - Loris Azzaro