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  "notes": "Uses a simple additive equation to define TAM.",
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      "text": "Core Market Includes high-quality design furniture, homewares, fine art, and watches and jewelry ~$129bn",
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      "text": "Personal Luxury Goods Market Includes adjacent categories (excluding watches) e.g. footwear, leather goods, apparel and beauty ~$210bn",
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      "text": "Source: Bain & Company estimates for 2020.",
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