Jay-Z and Will Smith are among a host of investors in an unlikely business venture - an all-natural beauty line.

On Tuesday, Smith and his wife Jada Pinkett Smith, Jay-Z, Interscope record company chairman Jimmy Iovine, music mogul Steve Stoute, Tommy Mottola and his wife Thalia attended a press conference in New York to announce their collective $10 million investment in Carol's Daughter.

The investment will fund a Carol's Daughter flagship store in New York City's Harlem, due to open in the autumn, as well as nine more stores in American cities including Atlanta, Philadelphia and Baltimore. Pinkett Smith, already a fan of the products, will become the face of the company in an upcoming advertising campaign.

The company was founded by Lisa Price, who left her job and started the all-natural line of bath and beauty products with just $100 to her name. It has since seen profits of $2 million, with Halle Berry and Pinkett Smith counted among its loyal customers.

Posted by Lawren at May 24, 2005 07:46 AM

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