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Tycoon banks on launch of luxury sportswear line

US banking tycoon Matthew Mellon and his fiancee, actress and model Noelle Reno, will launch a luxury sportswear line for autumn 07 called Degrees of Freedom. The pair are in talks with Harrods, Harvey Nichols and Selfridges for exclusive distribution of the womenswear label. The 100% cashmere and jersey range comprises hoodies, tracksuit bottoms and vests, with prices from £10 to £252. Creative director Reno will model the range.