The wait is over: The first official look at Disney's live-action 'Cinderella' is here!

Sixty-five years after the release of the beloved animated classic, Disney is revamping 'Cinderella' with a live-action remake starring 'Downton Abbey's' Lily James as Cinderella, Cate Blanchett as the Evil Stepmother and Helena Bonham Carter as the Fairy Godmother -- aka, the perfect cast.

While there have been other retellings of the fairy tale (like the awesome Rogers and Hammerstein version starring Brandy and Whitney Houston), we've been waiting on pins and needles for Disney's rendition ever since we saw the teaser trailer of just the glass slipper. And the first official trailer certainly does not disappoint, giving us a good, long look at what the movie certainly holds: Stunning costumes, compelling acting and even an updated look at the classic story.

"I wanted to take the world of the ball. Life can be pretty rough sometimes and it's a wonderful thing to be able to invite the world to the ball," the film's director, Kenneth Branagh, told E! News. "And then, from the inside, we've given it a contemporary feel that is human and humane and strangely enough, not built around the idea that Cinderella's life depends on finding a man or things, like clothes or a title, or just hoping this magic will come along. It's much more about who she is, what she feels about herself, and taking that kind of sort of spiritual cue to make it refreshing in a contemporary way."

'Cinderella' is scheduled to hit theaters on March 13, 2015.

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