Johansson, who won the best actress Bafta for 'Lost in Translation', Sofia Coppola's movie starring Bill Murray, has already been snapped up to be the face of a new Calvin Klein fragrance being launched by Unilever in the autumn.
The actress will be dressed in Vuitton and featured in the clothing and luxury line's autumn advertising campaign. It is unclear if Johansson's deal will match that of Lopez, who was reported to have signed a £2m deal last April.
Johansson is understood to have signed the deal in the last week as a slew of new movies she is starring in are set to hit cinemas, including 'The SpongeBob SquarePants Movie', where she's the voice of Mindy.
Along with Johansson, Louis Vuitton is reported to be in talks to feature other young Hollywood stars such as Chloe Sevigny and Julia Stiles, who is currently appearing in London in David's Mamet's play 'Oleana'.
Louis Vuitton, best known for its luxury bags, dumped the actress and singer Lopez after diva-like demands went too far at a photoshoot.
The star, whose movie career with turkeys like 'Gigli' is something of a contrast to Johansson's, was dropped after she finished a shoot and walked away with an estimated £5,000 worth of Louis Vuitton goods.
Louis Vuitton, which is owned by French holding company LVMH, has since used models Kate Moss and Naomi Campbell in its promotional work.
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