Timed to coincide with the two-day IHT Luxury Conference, which started yesterday, Lane Crawford is expected to throw a mean party tonight on Podium 4 of Two IFC in celebration of its new flagship store.

For more than a year now, the young president and managing director of Lane Crawford, Jennifer Woo, has taken the reins of the family business and, judging from the type of party she plans to throw, it is apparent Woo has her sights set on going bigger and better.

Though organisers will not disclose the cost of the bash, CitySeen's sources say the heliosphere, a giant helium 'video-balloon' that will allow spectators across Victoria Harbour to watch images projected onto the balloon, alone costs a couple of hundred thousand bucks. The oversized balloon can be seen from 5.30pm to 11.30pm from today to Monday. Celebrity guest DJ Malcolm McLaren, creator of the Sex Pistols, will be spinning tunes for more than 1,000 guests.