Focus Features has announced that Paul Thomas Anderson’s new film, which will star Daniel Day-Lewis and has recently been filming on location in England, will be released on Christmas.

This will put the as-yet-untitled film in contention for awards at the 2018 ceremonies.

This project is a big deal for cinephiles, not only because it sees Anderson and Day-Lewis reunite for the first time since There Will Be Blood but because DDL hasn’t actually made a movie since 2012’s Lincoln.

We know next to nothing about the plot yet, but it will be very different from 19th-century oil-prospecting in New Mexico, being set in the fashion/couture world in London in the 1950s.

Universal and Focus Features are behind it, reportedly winning the deal after a fierce bidding war with Fox Searchlight. The movie has a $35 million budget, PTA’s biggest since Magnolia ($37m).

According to Focus, the as-yet-untitled new film will see Anderson 'once again explore a distinctive and surging milieu of the 20th century through the new movie – the couture world of 1950s London.'

“Paul Thomas Anderson is a singular storyteller who has the ability to mesmerize audiences by creating complex and fascinating characters," Focus chairman Peter Kujawski commented.