A sequel to “The Devil Wears Prada” is one step closer to the big screen, and it’s coming at a decisive time in the fashion industry that inspired it.

20th Century Studios announced on Monday via social media that the sequel to the beloved 2006 film is currently in production, and it dovetails with the news that Anna Wintour – who is famously believed to have been the inspiration for the titular¹ diabolical² editor in the film, played by Meryl Streep – is stepping down from her position editor-in-chief at Vogue³ after almost four decades.

The first film was based on the 2003 bestselling novel of the same name by Lauren Weisberger, who had previously⁴ worked as a personal assistant to Wintour at Vogue, and tells the story of an impressionable young New Yorker (Anne Hathaway) who finds a job at a top fashion magazine under the direction of a tough-as-nails editor.

Streep’s character Miranda Priestly became shorthand for difficult-to-please bosses no matter the industry, and she earned one of her many Oscar nominations⁵ for her performance.

The new film will welcome back Streep, along with Hathaway, Stanley Tucci and Emily Blunt, whose career was launched by the hit first movie.