Princess Eugenie and Princess Beatrice have reportedly failed to attend a high society ball in London in the wake of their father Prince Andrew's decision to give up his royal titles.

The British Museum's inaugural Pink Ball, which has been pitted as a rival to New York City's Met Gala, took place over the weekend with a star-studded guest list including Naomi Campbell and Janet Jackson.

Although they hadn't publicly spoken about their intention to attend the event, it had been reported Beatrice and Eugenie were on the guest list for the ball.

But when Saturday came around, the pair were no-shows.

Their failure to attend the event came in the wake of Prince Andrew announcing his decision to give up his royal titles.

He announced that the move came after consultation with King Charles III.

"In discussion with The King, and my immediate and wider family, we have conclued the continued accusations about me distract from the work of His Majesty and the Royal Family," Andrew said in a statement released by Buckingham Palace on Friday evening (5am Saturday AEST).

READ MORE: Three words were the final straw for Prince Andrew

READ MORE: World's most famous faces unite for glamorous gala

READ MORE: Surprise detail Costco workers look for when they check receipts

"I have decided, as I always have, to put my duty to my family and country first. I stand by my decision five years ago to stand back from public life.

"With His Majesty's agreement, we feel I must now go a step further. I will therefore no longer use my title or the honours which have been conferred upon me.

"As I have said previously, I vigorously deny the accusations against me."

This decision means Prince Andrew will no longer use his Duke of York title and other titles he had claimed in his role as a royal.

While their father has relinquished his titles, the decision doesn't affect Eugenie or Beatrice.

They are able to keep their titles due to being princesses at birth.

The decision does however affect their mother Sarah 'Fergie' Ferguson who has lost her title as the Duchess of York.

No confirmation has been made as to why the two princesses didn't attend the Pink Ball.

While Eugenie and Beatrice didn't attend, British royalty was still represented at the inaugural event with Princess Diana's nieces Lady Eliza, Lady Amelia and Lady Kitty Spencer in attendance.

The sisters were dressed to the nines in varying shades of pink.

Lady Eliza attended in a baby pink sequinned gown that she paired with statement diamond jewellery.

Meanwhile, her twin sister Lady Amelia wore a red and pink floral gown with a hot pink sash wrapped around her waist.

Kitty Spencer opted for a strapless pink gown which she paired with a feathered stole and floral-look jewellery.

The sisters joined the ranks among a number of high-profile names who attended the inaugural ball.

Model Naomi Campbell wore a dress featuring the Union Jack for the occasion while Janet Jackson was a vision in red.

Jerry Hall and her daughter Elizabeth Jagger, meanwhile, were matching in black for the occasion.