By  on August 30, 2007

The first MasterCard Luxury Week Hong Kong aims to reinforce Hong Kong's position as Asia's luxury shopping capital.

The invitation-only event, produced by IMG, actually stretches over 10 days starting Friday, and will consist of runway shows, guest speakers, one-on-ones with stylists, "Art of Packing" seminars, in-store cocktails and other activities.

Fall designs from Calvin Klein, Diane von Furstenberg, Oscar de la Renta, Vera Wang, Peter Som, Zac Posen and Vivienne Tam will be showcased just as they arrive in Hong Kong stores. The non-American contingent includes creations by Australian designer Collette Dinnigan and the U.K.-based Nicole Farhi. There also will be a group show of international designer labels called The Swank, which will feature pieces from Roberto Cavalli, Kenzo, Andrea Gn, Givenchy men's wear and Christian Lacroix.

Shopping is the main event for many Hong Kong visitors and accounts for more than 53 percent of overnight visitors' total expenditures. Last year, visitors spent $48.5 billion shopping, according to the Hong Kong Tourism Board. MasterCard has invited 2,200 deep-pocketed visitors to the event to help promote tourism and to stimulate the economy. In addition, discretionary spending among Hong Kong's affluent residents is expected to climb to $17 billion by 2015 from $9.8 billion in 2005, according to MasterCard research.

"The focus has shifted around the world and it's all about the consumer, and Hong Kong is a true innovator in leading this trend," said Simon Lock, managing director of IMG Fashion Asia Pacific.

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