Blake Lively shimmered in a mermaid-like blue dress to attend a star-studded party at Tiffany & Co.’s NYC flagship store Thursday night — and she brought out some serious bling for the event.

On stage, Shakira wears a striking blue dress with a rigid corset featuring a wolf motif at the neckline and a skirt designed to mimic ocean waves. The outfit, created by designer Gaurav Gupta, ...