Deadline reports that Cruz has signed on as a yet unknown character in the film. It's safe to assume that Esquire's Sexiest Woman Alive will channel her modeling days to prepare for her Zoolander 2 character.
Stiller will reprise his role as the dimwitted model Derek Zoolander. Owen Wilson and Will Ferrell are rumored to be reprising their roles as Hansel and Mugatu. Justin Theroux is set to write and direct the sequel. Paramount Pictures and Red Hour Films will finance it.
News of a possible Zoolander sequel surfaced in 2008. Then in 2011, Stiller and Theroux seemed closer than ever to making Zoolander 2 a reality.
In 2011, Stiller told Empire magazine a few details about the future movie and specifics about Ferrell's part in the film:
It’s ten years later and most of it is set in Europe. I don’t want to give away too much, but it’s basically Derek and Hansel ten years later – though the last movie ended on a happy note a lot of things have happened in the meantime. Their lives have changed and they’re not really relevant anymore. It’s a new world for them. Will Ferrell is written into the script and he’s expressed interest in doing it. I think Mugatu is an integral part of the Zoolander story, so yes, he features in a big way.
The original Zoolander created some iconic comedic moments, including a gasoline fight, a catwalk showdown, and "blue steel" face.
Cruz recently took on roles in the Sacha Baron Cohen comedy Grimsby, and the Spanish-language drama Ma Ma.