Drew Barrymore Launching Makeup Line for Wal-Mart

Actress Drew Barrymore arrives at Chanel Hosts Benefit Dinner For The Natural Resources Defense Council's Ocean Initiative at a private residence on June 4, 2011 in Malibu, California.  Jon Kopaloff/FilmMagic

Drew Barrymore has a new baby in her life — and it's not her daughter Olive. 

A source tells Us Weekly that the actress, 37, is planning to launch her very own cosmetics line sometime in the next several months. As Women's Wear Daily reported this morning, the project will be Barrymore's "first foray into beauty marketing" — though she is also a spokesmodel for Cover Girl and previously worked for Lancome.

The new, made-from-scratch collection will be sold exclusively at Wal-Mart when it debuts next year. In the meantime, the star is hard at work developing the products with Maesa Group, a beauty manufacturer based in France.

"[Drew] has been very involved and hands-on in the whole process," the source tells Us.

The makeup line is just the latest in a series of big changes for the multi-talented former child actress. In June, she married art consultant Will Kopelman, 35, at her estate in Montecito, Calif. And last month, on Sept. 26, she gave birth to their first child, daughter Olive. She's also working on another new business venture, Barrymore Wines.

"I want to do it all," she told Haute Living in August. "I love film, but I also love wine, food, and traveling. I would love to be a travel writer. I'd be so stoked. 

"I think it's nice to do what you really love in life, occupationally and recreationally," she added. "Right now, I'm getting to do the things I love and I'm so, so happy about it." 

Her happiness was evident when she and Kopelman stepped out for their first official post-baby outing on Oct. 27. Wearing a black dress and a big grin, the new mom joined pals Jennifer Aniston and Justin Theroux at LACMA's Art + Film Gala in Los Angeles. 

"Drew ran over to Jen and gave her a hug. It seemed like they had some catching up to do," a partygoer told Us of the pair. "Drew had a huge smile on her face and looked so happy to be out and about."

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