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Taking another step into the world of fashion is Baz Luhrmann who will direct a video for the The Costume Institute of The Metropolitan Museum of Art's 2012 exhibition, Schiaparelli and Prada: Impossible Conversations. As creative consultant, the Aussie film maker will shoot a movie which will bring to life a fabricated dialogue between Elsa Schiaparelli and Miuccia Prada. The reason why the exhibit is called "Impossible Conversations" is because Schiaparelli died almost 40 years ago.

Playing the role of Schiaperelli is veteran actress Judy Davis who will star opposite Prada. The video will help to portray how both iconic women "explore similar themes in their work through very different approaches."

"Juxtaposing the work of Elsa Schiaparelli and Miuccia Prada allows us to explore how the past enlightens the present and how the present enlivens the past," said curator, Harold Koda.

Fashion and film seem to go hand-in-hand for Luhrmann. Not only has he created some of the most visually appealing films, e.g. Strictly Ballroom, Moulin Rouge, Australia, he is also currently wrapping up production on the new adaptation of The Great Gatsby - one of the all-time classic costume flicks.

Worried about missing all the action from the Costume Institute Met Gala? Then don't, because this year the red carpet will be live-streamed across the Web, totally true! Find out more here.