In other news, ahead of Raf Simons's debut as creative director later this week, Calvin Klein revealed its new logo. While not widely different to the instantly recognisable classic, the new design engineered by Peter Saville uses capital letters throughout. By introducing the new font, the company has returned "to the spirit of the original. An acknowledgement of the founder and foundations of the fashion house," it said in an Instagram post. Racked.com reports that the introduction of the new logo, renders $69 million of underwear - endorsed by the likes of Justin Bieber and Kendall Jenner - obsolete.