The movie will be based on the 1980 classic children’s book by Robert Munsch.

The Paper Bag Princess reverses the stereotypical princess and dragon story and won critical acclaim from feminist’s organisations when it was released.

It tells the story of a princess who is about to marry her ‘perfect’ Prince Charming when a dragon attacks their kingdom, kidnaps the prince and burns down the castle. With no clothes left, the princess wears a paper bag and sets out to challenge the dragon.

When she saves the prince, he is ungrateful and criticises her for not looking like a princess. She calls him a ‘bum’, leaves him and dances off into the sunset.

Banks is set to direct and depending on scheduling, Robbie will play the lead role of the Princess. Kate Silberman, who wrote Newsworthy and the upcoming Rebel Wilson comedy Isn’t She Romantic, will pen the script.

It’s early days for the project as Banks currently is prepping to direct a Charlie’s Angels reboot with Robbie starring in I, Tonya, the biopic about disgraced ice skater Tonya Harding.

Via: The Hollywood Reporter