Zoolander 2 is written and directed by Justin Theroux (writer of Tropic Thunder, director of Dedication). Ben Stiller and Owen Wilson reprise their roles as male models Derek Zoolander and Hansel respectively in a story that has been said to take place after just as many years have passed since the original film was released in 2000. Will Ferrell will also return as Mugatu in some capacity along with Christine Taylor as Matilda. In addition, Penelope Cruz has also signed on for a role as a new character. Paramount Pictures has set the comedy sequel for release on February 12th, 2016. Rewatch their catwalk reveal from this March.