Models grace Flemington for Derby Day

Supermodel Naomi Campbell has graced Derby Day at Flemington wearing a black and white Christian Dior strapless dress and a Philip Treacy hat.

Arriving in Melbourne from Singapore, Campbell strutted into the Lexus marquee more than one hour late, just as Hugh Bowman rode Polanski to victory in the Derby.

"I know that you have the big Cup on Tuesday and I'll be watching from my dressing room," she said.

"I love that everyone dresses up and I love the weather. Everyone loves a party."

Campbell said everyone at the track looked stunning and she loved to watch other people looking glamorous.

"It's always people watching me but I like to watch people too."

Campbell said she selected her Christian Dior dress because she wanted something simple and chic.

"I actually wanted to wear something easy, narrow and strapless," she said.

She won't be backing any horses, saying she would rather give her money to charity.

Campbell will start shooting The Face for Foxtel in Sydney on Monday.

"There are beautiful women in Australia. As you know, we have got so many beautiful models who have come out of Australia. So I'm sure that we're going to find a great, great winner," she said of the show, which will air on Fox8.

Fellow British model Poppy Delevingne also flew in for Derby Day, admitting she's more at home at the races in Melbourne than at Ascot.

The 27-year-old blonde beauty is the face of Thomas Sabo, an ambassador for Chanel and older sister to model of the moment Cara Delevingne.

Delevingne looked regal and princess-like on Saturday, wearing a white lace cut-out number by Melbourne label J'Aton, with a gold jewel headpiece by Dolce & Gabbana.

The British-born fashionista said she preferred the atmosphere at the races Down Under to the more conservative vibe at Ascot.

"The races in the UK are all about sipping tea and meeting the Queen, and it's all very well-to-do," she told AAP in the packed Lavazza marquee.

"Here it's just one big party. I'm much more suited to here."

The model saluted Australian racing fashion for its individuality and liberty.

"At Ascot there are very strict rules. You have to wear a dress that covers your knee and hat that covers your whole head.

"Here, it's obviously a lot more free, which is more exciting."

Quashing rumours she was going to wear Chanel at Derby Day, Delevingne said she changed her mind and picked J'Aton, in a show of respect to local designers.

"I thought I would fly the flag for the Aussie designers."

Also at the Lavazza marquee was model Lara Bingle, who kept her outfit simple by wearing a black, cut-out Dion Lee dress and a custom-made black jewel headpiece by Ryan Storer.

"Derby Day I like coming to because it's very much my aesthetic - black and white," Bingle told AAP.

"I just like to be really simple and feel like I can still walk down the street (wearing this same outfit).

"I'm quite a uniform dresser - I wear things that I can wear again. I just like quite simple things. Simple and elegant, and this is quite beautiful to me."

Bingle refused to speak about engagement speculation sparked last week.

She was snapped wearing a ring on her wedding finger during an interview about her new love, actor Sam Worthington.

Her agent told AAP on Saturday said there was no truth to the rumours.

"She's been wearing that same ring for close to two years. There is nothing to it."