MICHAEL Cromer, Munich based-purveyor (hence the MCM logo) of designer luggage to the rich and famous, is in destructive mode. The subject - fakes. And during his brief stay in Hongkong Michael has seen enough cheap imitations of his designer products to give him bags under his eyes. ''In some ways I should feel flattered, because when fakes of one's products appear on the market it means there is a demand for it,'' he remarks. ''But for the sake of the integrity of my business I have to conduct a search and destroy operation wherever it occurs.'' (He will be doing just that to a load of MCM fakes in a public ceremony today.) Chairman Cromer's thoughts on how a hard-at-heels German actor became the multi-millionaire founder of a company whose line of baggage gives instant clarification of social status at the airports of the world, were dispelled to me in the back of a Rolls-Royce as we sped through the streets of Hongkong during the Great MCM Retro Rally at the weekend. Apart from faksters of his designs, gregarious Michael's other pet peeve concerns bank managers. ''When I was penniless they didn't want to know me. Now it's me who usually doesn't want to know them, although I never have any problem about bankers returning my calls these days.'' It was Austrian movie star Helmut Berger who got Michael going by making disparaging remarks about the suitcase he was carrying when he arrived at an elegant Rome hotel where they were billeted while working together on a film. Michael, who dedicates himself to being ''an individual with a capital 'I','' was so offended by the off-hand attitude of the toffee-nosed Rome shop assistant who didn't think he was the type of customer they should be entertaining, that when he got hometo Germany he designed a leather bag himself and had it made. The bag must have made an impression, because on location for his next movie actress Elke Sommer, for one, liked the look of it and asked where she could get one. Michael was on his way to his first million. ''I don't consider myself merely as selling a product,'' says Michael, whose company is now expanding from leather goods to perfume. ''I am also marketing a lifestyle that is both upmarket and fun.'' Thus his participation in the Retro Rally which had well known local personalities dashing across Hongkong island in vintage cars trying to fulfil a series of tasks (from picking up an MCM bag at Causeway Bay to collecting leaflets of cultural happeningsat City Hall), returning to the beautiful and spacious Shek O home of Jardines' deputy MD Rodney and Michele Michell which was the centre of all the fun. One of the tasks entailed visiting MCM's Landmark boutique and identifying the MCM products worn by the model in the shop. It is my duty to report that Michael, who was accompanied by his wife Mara who helps him run MCM, was only able to identify about six of the dozen or so items designed by him that the pretty girl was wearing. But then, as he pointed out in mitigation: ''I'm looking at hundreds of new ideas for products at any given time. And I've got millions of new designs in my head.''