When pop star Taylor Swift released her third album “Speak Now” this fall, it sold more than 1 million copies in the first week—but the music business isn’t the only industry counting on America’s latest sweetheart. Beauty, too, has eyed her potential. Less than a year after signing on as the new face of Procter & Gamble’s Cover Girl brand, the Grammy Award-winning singer has inked a deal with Elizabeth Arden to create her own line of prestige fragrance products, scheduled for release next fall. Swift will reportedly be personally involved in all aspects of product development, packaging and advertising.