In China, the color red symbolizes good fortune. That's why the new accessories collection designed by Gucci to celebrate the Beijing Olympics is red all the way. The eight items in the "8-8-2008" Limited Collection (eight being a lucky number in Chinese culture) range from Gucci's first-ever digital watch to a luxurious mah-jongg set, a leather luggage set with a duffel and messenger bag, sports shoes for men and women, a sterling silver necklace inspired by military tags and a leather panda.

But the centerpiece of the collection is the red bicycle, covered like the other products in La Pelle Guccissima leather with Gucci's interlocking GG logo entwined with the numbers 2008.

For now only the watch is available in the U.S. The other products are being sold exclusively in Hong Kong and China, which is sure to make them red hot on the list of must-haves.