This year's Triple J Hottest 100 winners The Rubens, hip hop artist Illy, electro three-piece SAFIA​ and chart topper Betty Who are among acts lined up to play across the four-day carnival at "entertainment and fashion playground" The Park.

Victorian Racing Club executive general manager Caroline Ralphsmith​ said the new area at Flemington, behind the grandstands where The Precinct once stood, hoped to entice 18-to-25-year-olds following a trend of declining attendances.

"The music was really selected thinking about variety, but also that age bracket," she said. "The VRC recognised the need for customer engagement strategies."

But there will still be something for every age, with pop luminary Marcia Hines singing Disco Inferno on Melbourne Cup Day.

And Stakes Day will feature children's activities, including a kids fashions on the field, and a Melbourne International Comedy Festival show.

The Park, which will also be home to the Fashions on the Field enclosure, was unveiled at a three-course champagne breakfast at Melbourne restaurant Cumulus Inc on Tuesday morning.

Myer ambassador and Instafamous model Stephanie Smith told the crowd that lace, classic cuts and boater hats were in, while too much colour was out.

"This season, the boater … is definitely back. I'm seeing more and more of it," she said, with a black and pink-feature-adorned one on her head.

Ms Ralphsmith said the casual style boater hat had emerged at the Girls' Day Out event at Flemington Racecourse in September and was especially popular with younger women.

"It's really cute, it's a bit more relaxed and that's gorgeous," she said. "When you're younger, you want to do different things."

The Park is also showcasing another new fashion item, but one that no one hopes to wear.  It is aiming to play reverse psychology with mother nature by offering stylish pale pink or light green trimmed raincoats.

"If you buy a raincoat, it's probably not going to rain," Ms Ralphsmith said.

Forget the ugly blue plastic kind that will ruin your look, these raincoats are see-through so that outfits can be seen underneath and feature a large hood to cover hats or fascinators.

Meanwhile, foodies young and old will be pleased to devour culinary delights at pop-ups including Hanoi Hannah, Gelato Messina and Biggie Smalls, or sip cocktails at the Pony Bar.

Huxtaburger owner Daniel Wilson, whose offerings include a bacon and egg breakfast burger, with bloody mary mayo, said the higher standard food options for general admission were a reflection of Melbourne's growing taste for quality food.

"It's what the general public demands," he said. "Melbourne is a smart city when it comes to food and events."

The Melbourne Cup Carnival kicks off on with Derby Day on Saturday, October 29, and winds up on Stakes Day on Saturday, November 5.