Have you been waiting impatiently for Nicole Richie to return to the world of reality television? Well, rejoice, because she is.

The former wild child and 'Simple Life' star is coming back to television as a celebrity mentor on the new NBC series 'Fashion Star.'

Hosted by Elle Macpherson, the show will follow Richie as she, Jessica Simpson and menswear designer John Varvatos mentor aspiring fashionistas competing for a chance to win a multi-million dollar contract to launch their ow lines.

While Simpson and Richie are known more for their reality television careers, both run successful fashion lines. Sales from Simpson's collection of shoes, handbags, clothes, intimates and swimwear made $750 million in 2010.Richie, meanwhile, 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.

See, a career in reality television really does pay off.

[CNN]