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Known for classic couture like "the little black dress" and famed fragrance Chanel No. 5, Chanel has been a haute name in fashion and cosmetics for decades. The company also creates watches and jewelry and has a single license -- for eyewear with Luxottica. Founder Gabrielle "Coco" Chanel opened her first boutique in 1913, touting designs known for simplicity. After Coco died in 1971, Chanel's style stagnated for years until Karl Lagerfeld took over the designs and revived the label by tapping a younger market.