Two of our favourite fashion crushes? Nice work, Revlon.
As global ambassadresses, the pair are set to feature in print, TV, digital and in-store campaigns for the brand - so expect to see their ads in early 2012.
According to WWD, Revlon has said that that the girls will be linked to campaigns featuring a new cosmetics colour line, and new nail enamel products.
Olivia and Emma follow in the footsteps of previous Revlon royalty which includes Jessica Biel, Jessia Alba, Kate Hudson and Halle Berry. And we can't help but agree that they are perfect for the part.
Revlon's global artistic director, Gucci Westman believes that the pair "embody strength, beauty and femininity."
"Emma is so classic in a Grace Kelly real movie star way and she is an amazing actress as well," she says.
"Olivia has the most unbelievably beautiful eyes and she is also cool and intelligent. I cannot wait for everyone to see our new Revlon campaigns."
We can't wait to see them either.
What do you think of Revlon's new faces? Vote below.