(FORTUNE Magazine) – ''The easiest way for a woman to become Cinderella is to put on jewelry,'' says costume jeweler Kenneth Jay Lane. One way for a company to become Cinderella is to sell the jewelry. Kenneth Jay Lane Inc. has been wholesaling fake jewels to specialty and department stores around the world since the mid- 1960s. Two-and-a-half years ago Lane took a tiny space in New York's Trump Tower to place his dazzling creations before consumers, at prices ranging from $20 to more than $300. The shop was an instant hit, and twice as profitable as the wholesale business; last year it rang up $400,000 in sales. With capital from two new partners, the retail subsidiary has added another New York store on chic Columbus Avenue and is opening one in Beverly Hills on April 1. The company looks for first-year sales of $1.5 million for Beverly Hills and $500,000 for Columbus Avenue. Lane also plans shops in San Francisco, Dallas, Florida, and Washington, D.C., in the near future. With the wholesale business booming too, the privately held company's total sales reached $10 million in 1985, up 65% from 1984.