Penelope Cruz is the new face of Loewe.

The Spanish actress - who is married to 'Skyfall' actor Javier Bardem - has signed a three-year deal with the leather goods brand, and will be seen in the first collection in spring 2013.

Mert Alas and Marcus Piggot will shoot the campaign, and creative director Stuart Vevers has revealed she felt like the perfect fit for the brand.

He said: ''Penelope is Spain's most famous woman. For us to collaborate feels right and natural.''

Penelope will be following in the footsteps of Gisele Bundchen, Kate Moss and Stephanie Seymour by representing the brand.

It is the second fashion venture the 38-year-old star has worked on recently - she also designed an underwear collection with her sister Monica for Agent Provocateur.

She said: ''It is so exciting for me and Monica to embark in this new adventure. We have always been huge fans of Agent Provocateur and both of us are very much looking forward to this long term collaboration. We feel extremely happy to become part of this great team.''