SHAKESPEARE IN LOAFERS: Gwyneth Paltrow joined Tod's boss Diego Della Valle at a private dinner and cocktail party for the launch of Tod's Pashmy bag on Wednesday night in Milan. Paltrow and the bag are the stars of a short film directed by Dennis Hopper, which can be viewed from today on Tods.com. The website has also launched Tod’s TV and will stream cult Italian films.

“I am always running around in the shoes and the Macs are so great,” said Paltrow. The actress will be shooting the 2009 spring campaign with photographer Mikael Jansson.

Ahead of that shoot, Paltrow said she’s excited to be playing Regan in “King Lear” alongside Anthony Hopkins and Kiera Knightley, a film which goes into production in January.

"This is a celebration of the first part of our work and our collaboration with Gwyneth,” said Della Valle before sitting down to dinner with guests including Jefferson Hack and his fiancée, model Anouck Lepere.