Penelope Cruz looks effortlessly chic in a burgundy and pink figure-hugging dress as she steps out for her film Pain and Glory's party at Cannes Film Festival

She's the stunning Spanish actress who never puts a foot wrong when it comes to fashion.

And Penelope Cruz looked effortlessly chic as she stepped out for the Variety party for her recent film Pain and Glory at Cannes Film Festival on Thursday.

The 45-year-old actress wore a stylish figure-hugging dress with a burgundy top and a pink skirt.

Simply chic: Penelope Cruz looked effortlessly chic as she stepped out for the Variety party for her recent film Pain and Glory at Cannes Film Festival on Thursday

Simply chic: Penelope Cruz looked effortlessly chic as she stepped out for the Variety party for her recent film Pain and Glory at Cannes Film Festival on Thursday

Penelope's svelte waist was cinched with a pale yellow band that highlighted her hourglass figure.

The actress' look was accessorised with sparkling earrings, a small white jacquard purse and she elevated her ensemble with nude heels.

For make-up she opted for a glamorous smokey eye, lashings of mascara, a hint of pink blush on her cheeks and mauve hued lips.

Stunning: The 45-year-old actress wore a stylish figure-hugging dress with a burgundy top and a pink skirt

Stunning: The 45-year-old actress wore a stylish figure-hugging dress with a burgundy top and a pink skirt

Beauty: Penelope's svelte waist was cinched with a pale yellow band that highlighted her hourglass figure

 Beauty: Penelope's svelte waist was cinched with a pale yellow band that highlighted her hourglass figure

Cast: Barbara Kimpel, Nicole Kimpel, Antonio Banderas, Penelope Cruz, and Pedro Almodovar

Cast: Barbara Kimpel, Nicole Kimpel, Antonio Banderas, Penelope Cruz, and Pedro Almodovar

Cheers! The cast toasted the event with a glass of bubbly

Cheers! The cast toasted the event with a glass of bubbly

At the event the brunette beauty was joined by her Pain and Glory co-star Antonio Banderas and director Pedro Almodovar.

Pedro, 69, kept it casual for the event matching his green suit with sneakers and aviator sunglasses. 

Antonio, 58, also opted for a relaxed ensemble for the party in a navy blazer, white T-shirt and jeans.

Three's a charm: At the event the brunette beauty was joined by her Pain and Glory co-star Antonio Banderas and director Pedro Almodovar

Three's a charm: At the event the brunette beauty was joined by her Pain and Glory co-star Antonio Banderas and director Pedro Almodovar

Smart: Penelope arrived earlier in the day in chic blazer and skirt ensemble
Smart: Penelope arrived earlier in the day in chic blazer and skirt ensemble

Smart: Penelope arrived earlier in the day in chic blazer and skirt ensemble 

Pain and Glory is a Spanish film about a director in his decline as he reflects and revisits big moments and decisions in his life. 

The Zorro star was joined at the event by his glamorous banker girlfriend Nicole Kimpel, 38, and her twin sister Nicole.

He and Nicole have been dating for four years after he split up with his then-wife of 19 years Melanie Griffiths.

Sharp: She tottered along the cobbles in killer heels
Sharp: She tottered along the cobbles in killer heels

Sharp: She tottered along the cobbles in killer heels

Glamorous: The Zorro star was joined at the event by his glamorous banker girlfriend Nicole Kimpel (right), 38, and her twin sister Barbara (left)

Glamorous: The Zorro star was joined at the event by his glamorous banker girlfriend Nicole Kimpel (right), 38, and her twin sister Barbara (left)

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Penelope Cruz looks effortlessly chic as she steps out at Cannes Film Festival

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