Katy Perry slips into a skintight hot pink dress to be crowned Billboard's Woman of the Year

PUBLISHED: 16:39 EST, 30 November 2012 | UPDATED: 16:58 EST, 30 November 2012

Being the covergirl for Billboard's annual Women in Music edition is nothing to be sniffed at, and this year's chosen one - Katy Perry - more than lived up to the hype.

It's gratifying to see the global superstar finishing the year on a high after undergoing harrowing personal problems over the past 12 months that saw her marriage to comedian Russell Brand, 27, end in divorce.

Katy, who turned 28 on October 25, told Billboard: 'I'm glad I'm still alive-27 has been a very testing year.'

Scroll down to hear Katy talk about this latest accolade...

Unstoppable: Katy Perry celebrates being crowned Billboard Woman of the Year at a luncheon in New York on Friday

Unstoppable: Katy Perry celebrates being crowned Billboard Woman of the Year at a luncheon in New York on Friday after what she describes as a 'testing year'

But the Teenage Dream star proved just how unstoppable she is by leaving all rivals trailing in her wake at a luncheon held in New York on Friday to mark the occasion.

The 28-year-old had selected a stunning - and skintight - hot pink number for her big moment, and completed the look with an elegant, understated Forties style updo.

It was an impeccable choice; one that captured Perry's pop art style without going overboard and the dress choice couldn't have flattered her figure more.

She was joined on the carpet by pretender to the throne, the increasingly popular Justin Bieber protege (who won New Artist of the Year at the AMAs recently).

Pop art: Katy Perry and Carly Rae Jepsen looked fabulous in hot pink and true blue at Billboard's Women in Music, New York on Friday

Pop art: Perry and Carly Rae Jepsen looked fabulous in hot pink and true blue at Billboard's Women in Music, New York on Friday

Pink perfection: Katy really couldn't have looked lovelier for the prestigious event

Proud parents: Katy with her mother and father, Keith and Mary

But Jepsen, 27, may be lovely in her Zooey Deschanel bangs and royal blue skater dress and she may have stupidly infectious tracks like Call Me Maybe... but she ain't no Katy.

The reigning pop princess opened up to Billboard in an interview that accompanies her cover.

She told the magazine she was blindsided by the plaudit, she said: 'I'd thought my year was over, that it was time to pass the baton.

'But I guess I get to hold onto it until the end of the year [laughs]. It's truly a lovely compliment, seeing who has been honored in the past-Beyonce, Taylor Swift and others-I'm in good company.'

She also brushed off their assertion that she's a role model, she said: 'I'd like to change the phrase 'role model' to 'inspiration.'

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Learning from the best: X Factor star Cher Lloyd posed with the woman of the moment inside the lunch

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'Role model' puts you on a pedestal that no one can really live up to. For me, aspiring to be an artist at a young age, I didn't think about being a role model.

'But I definitely thought about being an inspiration. So I hope that I am an inspiration, especially with my work ethic and my ability to overcome obstacles.'

She also added: 'I feel I'm in the same position I was in after I made the first record. I toured [on] that and then made the second record and toured that. Now I'm at an in-between position again.

'But I'm not scared or feeling uncertain. It's still about coming from a very honest place to reconnect with my core.'

Making an entrance: Cher, Ciara and Carly arrive at the event