Jessica Simpson loves to treat herself to diamond earrings.

The fashion mogul - who is celebrating the 10th anniversary of her brand, The Jessica Simpson Collection - revealed that whenever she signs another big business contract, she splurges on expensive studs.

She said: ''Every time I sign a big contract, I trade the ones I own in for a bigger pair!''

The 35-year-old entertainer - who has dabbled in acting - also revealed that her new fashion collection pays homage to her 'Dukes of Hazard' character Daisy Duke as it features a pair of red cowboy boots.

She told PEOPLE: ''Daisy's red cowboy boots ended up being [the inspiration for] the first shoe to launch my collection, [and] I was really excited to bring them back for the 10th anniversary.

''As the collection has evolved, we've always kept that All-American spirit. When we do store visits or personal appearances, I still see girls wearing the original cowboy boot. I love that. We all have those iconic pieces in our wardrobe and I am thrilled that people have embraced our brand that way.''