And they're off...
Fashion legend Karl Lagerfeld is one of the first big name designers to make a dash to London to put his stamp on a summer of sport and style.
His new label Karl, which inspired by the Olympics, was launched at the Oxford Street department store Selfridges.
And he's not event a big sports fan.
SOUNDBITE: Karl Lagerfeld, Chanel creative director, saying (English):
"I like the idea, I like the people, but the performances, they are something of a little unhuman now. I like the image and the idea better than to watch it."
The London 2012 Games have been dubbed the fashion Olympics in some circles.
Top designers have been tasked with the job of styling elite athletes coming to the games.
British designer Stella McCartney was hired by sportswear giant Adidas to create Team GB's kit.
Adidas CEO Herbert Heiner.
SOUNDBITE: Herbert Heiner, CEO, Adidas, saying (English)
"I feel that we will be copied after that but in general you can see that sport has a big influence into fashion as well and sport companies are able to bring more and more elements to their sports gear and I think this will continue."
The Italians have drafted in fashion icon Georgio Armani and Usain Bolt will be wearing a Cedella Marley creation.
The daughter of reggae royalty Bob was snapped up by Puma to design Jamaica's 2012 kit.
Steve Madincea from Sports PR firm Prism says the Olympic Games represents a key branding opportunity.
SOUNDBITE: Steve Madincea, Managing Director, Prism (Public Relations & International Sports Marketing, saying (English):
""Being involved in the Olympics is easily going to top you $100 million dollars in national, global, international exposure. You bring together the sporting capital and the fashion capital at the London 2012 Olympics and the opening ceremonies going to be the greatest catwalk in the world."
However the global platform that is the Olympic Games can backfire, as fashion brand Ralph Lauren found out when it was revealed its uniforms for the U.S. Olympic team were made in China. The brand promised it would produce the outfits for the next Olympic Games in the U.S.
Cheer or jeer, London 2012 will certainly give fashion lovers plenty to talk about.
Hayley Platt, Reuters
