This outlet is located near the aiport and you can find very good bargains for designer clothes here. In addition there is also a Nike and Adidas outlet available. But be careful I once ended up spending all my shopping money for one month during one visit...
Take the Tung Chung line from Central to get there (about 30 min, Tung Chung station). There are signs for the outlet in the MTR station. Just follow them.