Indian model, Diana Penty has signed a new deal which will see her becoming the new face of Maybelline New York. She has replaced Bollywood star Deepika Padukone according to online reports. In a statement released by Penty, she was quoted as saying, “I feel great to get this opportunity to endorse a brand that is so vibrant and truly multi-ethnic. For me it is not only about whom I am replacing but it`s about being on the same platform as international models and get international exposure.”

In what may be another sign of the effects of the economic slump on the beauty industry, it has been suggested that companies are shying away from increasing the endorsement fees of celebs. A statement by Padukone’s agency said, “The contract expired in Jan 2008 and wasn`t renewed, as the amount offered was not commensurate with Deepika`s growing brand status…”

Twenty-three year old Penty joins fellow models Christy Turlington and Adriana Lima as faces of the brand.