Australian top fashion line David Jones is rumored to be letting go of their prime endorser and ambassador Miranda Kerr for a younger and less expensive model.
Miranda Kerr models for David Jones' Autumn/Winter Collection 2012.
Rumors that the model and the fashion house are cutting their ties emerged due to the speculation that Miranda Kerr is becoming too expensive for brand.
Women's Wear Daily Australian correspondent Patty Huntington said that David Jones ''could not afford to let her go, there is not a day that goes by where she is not photographed and published somewhere around the world ... but perhaps she has become too big for David Jones.''
However, if David Jones wished her to resign and leave the company, it will have to pay a fee, which more than what she is currently earning.
Miranda Kerr first came to David Jones in 2007. Her contract is due to expire in 2014. Her $1 million-a-year contract with DJs is her only major Australian deal with Kerr's agency receiving a 30 percent cut and further charging clients 15 percent booking fee.
Miranda is bound to fly to Australia in August to strut on the catwalk for spring-summer collection of the brand.
According to Sydney Morning Herald, despite the fame and privileges that Miranda enjoy from being part of the David Jones' family, the model expressed her frustration with the ''restrictive'' DJs contract, which precludes her from endorsing competing brands and cashing in on her newfound celebrity status.
The report also said that the senior marketing executives of the store held meetings with the emerging model Cheyenne Tozzi in the recent weeks. There are speculations the retailer is looking for a younger and cheaper replacement for Miranda.
One of the reasons for the replacement is Miranda's age. The model will turn 30 years old next year. David Jones is probably looking for a younger model that it can mold to be the new ambassador and follow in the footsteps of Kerr and her predecessor, Megan Gale.
Tozzi is the daughter of Kings Cross nightclub operator Antonello Tozzi and is a former girlfriend of pro surfer Taj Burrows.
Another possible candidate for being the face of David Jones is Nicole Trunfio, a former face of Guess Jeans who has walked the European catwalks for the likes of Gucci. Trunfio has stepped in for Kerr when she was unable to walk the David Jones runway.
The Australian supermodel and Victoria's Secret pin up girl left her former modeling agency Chic Management in Australia and signed a contract with IMG Models who put up an office in Sydney.
This is a major blow to Chic which handled Miranda for years as one of their big time models. Miranda brings $350,000 annual income to Chic.
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