Rapper Jay-Z, who has recently released a limited line of luxury watches together with Audemars Piguet, and actor Will Smith are among celebrities who invested collective $10 million in beauty-products company Carol’s Daughter. Other investors are Interscope record company chairman Jimmy Iovine, Steve Stoute, Tommy Motolla and his wife Thalia. The stars announced about their investment at a press conference in New York.

According to the New York Post, the company is planned to go nationwide: "I had seen the product and I thought it was a new category that could be introduced. Our voice should be able to control and manage it for the marketplace," said Stoute.

The company was opened by Lisa Prise in Brooklyn in 1999 after years of making beauty products at home. Started from just $100 capital, Carol's Daughter now brings  $2 million in profits. Main store will be situated in Harlem and is promised to open this fall, while other nine stores are planned to be launched in Atlanta, Philadelphia and Baltimore.

Pinkett Smith, wife of Will Smith, will represent the Carol's Daughter brand in a new advertising campaign.