Guess? Inc.'s creative director Paul Marciano says in a statement that Dannielynn Birkhead has the "same playful spirit" that her mother would carry onto a set.
The brand hired Smith in 1992, and she appeared in its sexy denim-wear ads through 1993. She was a relative modeling unknown at the time, although earlier in 1992 she was on a Playboy magazine cover.
Smith died in 2007.
Dannielynn's campaign also stars Peyton Edmunds, the daughter of music industry veteran Babyface.
The ads were shot on a Malibu, Calif., beach, and they'll start appearing in magazines, on billboards and on buses beginning in January.