Supermodel and actress Milla Jovovich was named face of the famous luxury watch and diamond jewelry house, Jacob & Co. The new global ambassador was unveiled during a cocktail reception that took place in Basel, Switzerland.

Renowned luxury watch and diamond jewelry house, Jacob & Co, announced the company's newest global ambassador, Milla Jovovich. The announcement was made in Basel, Switzerlan on March 27th 2011, during a jam-packed cocktail reception.

"This evening is an important milestone for Jacob & Co.," said founder Jacob Arabo. "We have been looking for the right personality and beauty that represents what I call the Jacob Girl: She is a sophisticated world traveler, self-accomplished, and exudes an assertive feminine personality. [And] lastly, she is absolutely gorgeous!"

The theme of the party was the representation of Jacob & Co. global philosophy of multiple time zones, while the area was elegantly decorated with illuminated tall tables and live statuesque models. At this special event, Milla Jovovich made a grand entrance wearing precious diamonds. She also made a million dollar joke.

"Well, it's not much. This ring is $20 million. This bracelet is probably $10 million. Necklace is about, I don't know, 6.5. The earrings are 10. No big deal," she said.

Jacob & Co was founded over 25 years ago in New York City by Jacob Arabo. Even though at the beginning the house has designed for private clients, they managed to create a globally-renowned reputation with leaders in entertainment and sports, allowing the company to launch its flagship store in New York City in 2004.

Jacob & Co has consolidated its position as one of the world’s leading luxury watch and jewelry houses due to the introduction of the revolutionary Five Time Zone technology and complicated movements. The famous label doesn't stop here, keeping its fidelity to the highest standards of craftsmanship, design and innovation and creating timepieces and precious jewelry for both men and women.

Milla Jovovich Named Face of Jacob & CoPhoto by Philipp Jeker WWD

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