Designer John Varvatos will also join them as celebrity mentors on the reality competition

Credit: Jeffrey Mayer/WireImage; INF

She’s a mom and a fashion designer, so it’s only logical – Nicole Richie will serve as a celebrity mentor on the new NBC series Fashion Star.

Joining Jessica Simpson, who announced her role on the show last month, menswear designer John Varvatos and host Elle Macpherson, Richie, 29, will work with aspiring fashionistas as they compete for a chance to win a multi-million dollar contract to jumpstart their own brands.

“Jessica, Nicole, John and Elle make the most exciting team we have ever worked with on a reality television show,” executive producer Ben Silverman says. “We are thrilled to feature such an extraordinary group of mentors and designers.”

PHOTOS: Jessica Simpson’s Silliest Twitpics

In her style career, Richie has launched a House of Harlow jewelry collection, footwear, eyewear and handbag lines, a ready-to-wear women’s collection and a Pea in the Pod maternity line.