$69 Million Worth of Justin Bieber-Endorsed Underwear Rendered Obsolete

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Raf Simons is making his hugely anticipated debut as creative director at Calvin Klein next week at New York Fashion Week. In the run-up to the February 10th runway show, he quietly dropped a lookbook of new Calvin Klein made-to-measure items, and today, the brand revealed a new logo.

It’s basically the same, but kind of different? Maybe? The letters are mostly capitals instead of mostly lowercase. Art director and graphic designer Peter Saville is the man behind the sleek, skinny black and white letters, and for the most part, it’s all great and chic.

INTRODUCING THE NEW CALVIN KLEIN LOGO. A return to the spirit of the original. An acknowledgement of the founder and foundations of the fashion house. In collaboration with the art director and graphic designer Peter Saville.

A photo posted by Calvin Klein (@calvinklein) on Feb 3, 2017 at 6:00am PST

The change does, however, render the brand’s logo-heavy underwear — on which Justin Bieber and Kendall Jenner fans reportedly spent nearly $69 million last year — obsolete. The cotton briefs and bras currently lining the walls of your local Urban Outfitters, featuring elastic bands stamped with the now-old logo, are now old, but still too new to be vintage.

Even before hiring Raf Simons (previously of Dior and Jil Sander) to be the brand’s creative director, Calvin Klein gave itself a makeover by hiring Jenner and Bieber to appeal to millennials — and it worked. In May, Calvin Klein’s parent company PVH Corp. CEO Manny Chirico said the 13 percent growth in the North American wholesale business, from $654 million to $723 million (a $69 million difference), was mostly due to increased underwear sales.

So while probably frustrating for anyone who invested heavily in Calvin Klein underwear in 2016, it’s actually kind of brilliant to change the logo and make everyone spend $69 million all over again.