Music and Hollywood
elite have lined up to invest millions in the Brooklyn-based beauty products line,
Carol’s Daughter according to CNN/Money.
Will Smith, Jada Pinkett-Smith and Jay-Z are amongst a few of
the big-named investors who have invested a total of $10 million dollars in
the new business endeavor and have plans to take the company nationwide.
Additional investors include record executive and organizer
Steve Stout, Interscope Records chief Jimmy Iovine, Andrew Farkas and Tommy
Mottola and his wife, Latin recording artist Thalia.
Pinkett-Smith, wife of Will Smith, will serve as the face of
the product through a nationwide advertising campaign.
Carol’s Daughter opened the doors of its first store in
Brooklyn in 1999, after owner Lisa Price created products out of her home for
Specializing in hair and skin care products, it instantly became
a favorite with celebrities including Oprah Winfrey, Halle Berry and Erykah
The paper reported
that a flagship store will open in Harlem this fall, with nine other stores
slated to open in Philadelphia, Baltimore and Atlanta.