Art Basel Miami - the sister event of Art Basel in Switzerland - apart from being a platform for contemporary art dealers and collectors, is also an important event in the luxury fashion arena.

The event that kicks off from Dec.1, 2011, in Miami Beach has emerged as a major affair attended by the crème-de-la-crème of the fashion industry.

Indeed, the star-studded parties and glam fashion collections could deceive anyone into believing that the event is more of a fashion week rather than an art exhibition.

However, the Financial Times notes that the many fashion brands attending the event have to adhere to a certain set of rules and guidelines. The fashion collaborative collections to be showcased have to make an impact in such a way that the main focus is on art. The collections should be relevant within the contemporary art world in order to be showcased.

In the past, many designers, photographers and high-end luxury brands from Bruce Weber to Rick Owens have presented their creations at the event.

For the current year, there has been much discussion about Christian Dior's store, which reflects the brand's first artistic alliance with German artist and sculptor Anselm Reyle. The store will reportedly launch a new collection of handbags displaying Reyle's artistic viewpoints. Besides this, the pop-up store will also feature shoes, sunglasses and eye-shadows.

Apart from Dior, other high-end luxury showcases will include the capsule collection by Swiss brand, Bally, a pop-up store by Boho chic designer, Mara Hoffman and a photo-exhibit by renowned photographer, Marco Glaviano.