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The Minneapolis Star Tribune reports that a $5 million renovation to the iconic Mall of America is taking aim at luxury shoppers. Carpet is being replaced with Italian tile, five Swarovski crystal chandeliers are going in and elevators are getting marble trim. New options for shoppers will include Hugo Boss, Betsey Johnson and Francesca's Boutique.

"The luxury market is coming back, and we have to be ready for it," said Maureen Bausch, the mall's executive vice president of business development.

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