Watson was originally set to star in "La La Land", for which Emma Stone won the best actress Oscar this year, but things did not work out and she went on to sign the Disney musical.
"I don't know exactly what happened there but I am so glad that Emma (Watson) agreed to do my film. Both are great actresses. Emma Stone is fabulous in 'La La Land' and she won an Academy award for that.
Condon, an Oscar-winning screenwriter, says he knew that reviving the classic story for a new audience would be a huge responsibility.
"Everybody has a favourite memory of the 1991 animated movie. It is still played around the world. I knew it was an enormous responsibility. I was careful about not betraying the soul of this story.
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"I remember watching the film and being completely blown away by it. I did this film because I wanted to experience that feeling again. I wanted to reinvent it in the live-action format."
"I am aware of that. In fact, it is the biggest pitfall of the story. But I feel the 1991 version was very progressive in that way. Emma (a noted feminist) is a highly aware actress and we have done it carefully.
"In the film, when the Beast finally declares himself to Belle and says 'Do you think you could you ever be happy here?' She replies, 'How can anyone be happy when they are not free?' She turns him down. She does not allow herself to fall in love with him. It is only when she is free and finds the Beast in trouble that she comes to his rescue."
"I really like going back and forth between movies. Studio productions are such a huge machine that sometimes you struggle to stay connected to the drama, while it is difficult to get coverage for small movies."
When asked about the recent goof-up during the Oscars where "La La Land" was mistakenly declared as the best picture winner over actual winner "Moonlight", Condon, who produced the show in 2009, says it was unfortunate.
"Beauty and the Beast' is all set to hit Indian theatres on March 17. The movie also stars Dan Stevens as the Beast, Emma Thompson as Mrs Potts, Josh Gad as LeFou and Luke Evans as Gaston.
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