Essie's Nail Polish Empire

A Queens Girl's Idea Now Worth $150 Million

(CBS) 
She runs it all from her command post in Queens, New York. Her colors like "Watermelon," "Scarlet O'Hara," "Fancy Delancy," and "Downtown Brown," are shipped all around the world. She develops six new colors and six new names for every season. Weingarten says she never knows when inspiration will strike.

"As a matter of fact, two minutes ago, it was 'Deal, or No Deal.' What a great idea for a collection! I have to call my team," she told Brzezinski.

Weingarten keep all her ideas in a drawer in her Park Avenue apartment — everything from "Ocean City," to "Fire Island," to "David's Fair," to "Slim Skirt" and "Short Skirt."

She keeps her eye on the runway for inspiration and works with designers like Ralph Rucci.

"If I'm looking at this collection, which is couture — this is 2007 spring, summer — all of I sudden I take a look at this dress, which is incredible, and I see a whole new color pallet that's gonna be very strong for me," Weingarten said. "Raspberry reds, wonderful orange; and it's bright. I see 2007 happening here."

Although she works with exclusive designers and has adorned the nails of the rich and famous, Weingarten says the best thing about her nail polish is that you don't have to have a lot of money to wear it.

"You don't have to go shopping for a new outfit, all you need is a new color of nail polish and you feel like you're getting something brand new," Weingarten said.