While "Slumdog Millionaire" fame Freida is Hollywood-based Indian actress, Natasha is a Russian model.
The L'Oreal Paris ambassadors Aishwarya and Freida met at a special shoot for L'Oreal Paris at Cannes and both were excited.
"I have met Freida for the first time in person. All of us L'Oreal Paris spokespeople are so different, but each one of us is worth it," Aishwarya said in a statement.
Talking about Natasha, the "Hum Dil De Chuke Sanam" star said: "I met Natasha for the first time and she is a new mother, so we connected that way."
Aishwarya, who will walk the red carpet Tuesday and Wednesday, also has a daughter named Aradhya Bachchan with husband and actor Abhishek Bachchan.