Designer Diane von Furstenberg, who made fashion news this year with the 40th anniversary of her famous wrap dress, is honoring an icon of the women's movement: Gloria Steinem.

Steinem, who turned 80 last week, will be receiving the Lifetime Leadership Award at the annual DVF awards Friday evening in a ceremony at the United Nations.

Also being honored: Singer Alicia Keys, who receives the Inspiration Award.

Some high-profile presenters will be on hand, including Meryl Streep and Sarah Jessica Parker.

The DVF Awards were created in 2010 by von Furstenberg and The Diller-von Furstenberg Family Foundation to recognize and support "women who are using their resources, commitment and visibility to transform the lives of other women."

Each DVF award winner receives $50,000 for her chosen cause.