At the launch party on Wednesday for Prabal Gurung's new spring collection being sold exclusively at Target, celebrities enjoyed a night full of carnival rides and games with previewing items from the designer's limited collection.

To kick off Fashion Week 2013 in New York City, the event was held at Pier 57 and gave attendees a chance to preview clothes from Gurung's new collection before it sells in stores in Target on Feb. 10. The event had a carnival-like theme, fully equipped with a carousel, stands were attendees could play games and win stuffed animals, a theater room showing the Target campaign ad, and food trucks giving out desserts and other foods.

Attendees included Carey Mulligan, Elizabeth Olsen, Rashida, Analeigh Tipton, Olivia Thirlby - star of Prabal Gurung for Target advertising campaign - Isabelle Fuhrman and Chris Conroy.

Along with music by DJ Mia Moretti, R&B artist Ne-Yo performed his hit songs Let Me Love You (Until You Learn To Love Yourself, Give Me Everything, Let's Go and a song off of his new album R.E.D.

Target and Prabal Gurung partnered to introduce a limited-edition collection of women's clothes and accessories, including handbags, shoes and jewelry. The collection consists of more than 90 pieces and ranges in price from $19.99 to $199.99 for apparel and $12.99 to $39.99 for accessories.

View the slideshow to see all the stars in attendence, highlights from the night and clothes from the collection.

CLICK HERE to read about what the stars said about their Valentine's Days plans and what they are excited about for the new fashion season.