As negotiations to renew her contract with David Jones are expected to start in the coming months, one of the planet’s highest paid supermodels Miranda Kerr has strategically aligned herself with the world’s most powerful modelling agency to extract her maximum dollar value.
A fortnight after PS reported Miranda was about to jump ship from her long-term Sydney agency Chic Management and sign with global juggernaut IMG to cover her Australian deals, the model has confirmed she has switched teams.
Her A$1 million-a-year ($1,297,630) contract with DJs is her only major Australian deal, and one from which her agent would receive up to 30 per cent. It equates to up to A$350,000 ($454,142) in annual revenue for the agency at the moment. Losing it is a major blow for Chic, which continues to handle other big name models including Abbey Lee Kershaw.
Miranda is contracted to DJs for another year, but has privately expressed her desire to increase her fee dramatically or cut herself loose to pursue more lucrative commercial opportunities in Australia.
Her time with the department store was extended when she took maternity leave after having her son, Flynn, to husband and Hollywood heart-throb Orlando Bloom. However, as PS previously reported, negotiations with the chain are expected to be fraught because the model is a much bigger star now than when she first signed with DJs.
The move was described by senior Chic executives as a bitter betrayal.
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