This is a lighting setup by swedish photographer Carl Magnus Swahn with swedish model Denice Andrée. It is actually a classic butterfly lighting setup. I think it gives a very feminin character and I find suitable for classic beauty photos. This specific setup has the soft box with angle closer to the camera lens and less from above, so the characteristic butterfly shadow under the nose is not so prominent.
The equipment for this lighting setup
The photo was shot with a Lastolite Hilite 2,5 x 2,15 m giant soft box as a background. It was lit up by two Elinchrom strobes with a red/pink-ish gel filter to get that pink background. The gradient in the background was later enhanced in Photoshop. It’s difficult to see in the lighting diagram, but the Lastolite Hilite soft box is really huge. It’s like a huge lit up backdrop that easily can cover a full figure modell.
An Elinchrome Ranger (even though it was indoors) with a large soft box above the camera pointing at Denice. There was also a table with a silver metallic rescue blanket on it, used as a giant reflector. That gives a rectangular shape of the reflector and a much nicer catch light in the eyes.
If you zoom in on the photos and take a close look at the catch light in the eyes, you can clearly see the large soft box from above as well as the reflector from underneath.
The bokeh blur was added in photoshop.