By Alison McLaughlin

It’s official! At 11 a.m. Wednesday, Mayor Michael Bloomberg kicked off Mercedes-Benz Fashion Week along with top designer and Council of American Fashion Designers President Diane von Furstenberg and top brass from event production company IMG.

In a bespoke suit twined with socks from Filene’s Basement Bloomberg declared New York City to be “The Fashion Capital of The World!” – a sentiment shared by IMG head honcho Ted Forstmann who revealed that the schedule for this season’s event is the biggest yet. From tomorrow morning till late next Thursday night the jam-packed itinerary will feature established designers such as Michael Kors, Marc Jacobs and Donna Karan alongside relative newbies to the scene such as Ashleigh Verrier, Timo Weiland and premier collections from students of The School of Fashion at Academy of Art University in San Francisco, California.

Check Back tomorrow for highlights of Day 1 with the first Spring/Summer 2011 runway show Nicholas K, former Heatherette co-designer Richie Rich’s new solo collection as well and an exclusive interview with Christian Siriano – The youngest designer to win Project Runway.

And the Parties. Don’t forget the parties. CBS New York will bring you behind the velvet rope of this season’s most glamorous fashion after parties and events plus special coverage from this Friday’s “Fashion Night Out” – The city-wide late night shopping experience.

Follow @CBSFashionWeek and don’t forget to watch Fashion Night Out on CBS on Tuesday September 14.