Bling for Beauty

By Coco Masters

Lisa Price needs a bigger kitchen. That's where Brooklyn's beauty secret for the past 12 years, Carol's Daughter, brews 350 types of skin- and hair-care products with homemade appeal and tropical scents. Founder Price, 34, joined forces eight months ago with ex--record executive Steve Stoute, and the hip-hop and business matchmaker recruited seven investors--including rapper Jay-Z, former Sony mogul Tommy Mottola and Will Smith--to put the bling--$10 million--into the brand. So far, it seems, the money has been well spent. "There's some fairy-tale dust going on," says Stoute--who previously paired music icons with Reebok, Hewlett-Packard and McDonald's to help juice up their brands. He says he now plans to "create urgency" around body souffles and foot butters. A new Carol's Daughter ad campaign featuring Jada Pinkett Smith has helped propel online and catalog orders up 300% and 500%, respectively, over last year, says Price. Next: an expanded men's line and 12 new retail stores across the country, including a Harlem flagship opening in August. --By Coco Masters