Elton John

Elton John performs at Allstate Arena in Rosemont on Saturday, November 30, 2013. (Chris Sweda / Chicago Tribune / November 30, 2013)

Elton John knows a thing or two about ostentatious outfits, from fringed jumpsuits to oversize sunglasses to sparkly sequined jackets. Now he can apply that expertise to a newly announced animated film adaptation of the hit musical "Joseph and the Amazing Technicolor Dreamcoat."

John's Rocket Pictures announced Wednesday that it has acquired the film rights to the stage production by composer Andrew Lloyd Webber and lyricist Tim Rice, which is based on the "coat of many colors" story from the Book of Genesis.

"Joseph" was created for performance in schools and marked Webber and Rice's first publicly staged musical. It made its way to Broadway in 1982 and has since been performed all over the world. A production will tour the U.S. later this year. 

John, Webber and Rice will serve as executive producers on the film adaptation, which Steve Hamilton Shaw and David Furnish will produce with the Really Useful Group. 

Rocket Pictures is producing a musical based on John's life, titled “Rocketman” and starring Tom Hardy in the lead role. Focus Features will distribute the film.

Rocket also is developing "Sherlock Gnomes," a sequel to the 2011 animated movie "Gnomeo & Juliet," and another animated film, "Will Gallows and the Snake Bellied Troll," written and directed by Kelly Asbury.