According to The Hollywood Reporter, Reese Witherspoon's Type-A Films and Scott Steindorff's Stone Village Pictures are teaming to produce Penelope, an indie feature with Christina Ricci set to play the title character and Witherspoon a supporting role.

The original script by Leslie Caveny, a television writer whose credits include Everybody Loves Raymond and NewsRadio, is a described as a modern-day fable about a young woman named Penelope who suffers from a "curse" but sets out to end her life-long streak of bad luck and find her true self.

Mark Palansky, a second unit director whose credits include The Island and The Amityville Horror, is making his feature debut.