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Leading players in the luxury industry are looking for ways to diversify their product portfolios, and many are doing so by releasing beauty products. For example, Marc Jacobs opened a store in New York City selling only cosmetics and fragrances, and Tom Ford is releasing a men’s cosmetics line in late 2013. Other luxury companies are releasing jewellery and timepieces to diversify their portfolios. Louis Vuitton, for example, opened a store in Paris devoted strictly to jewellery.

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