Breaking: Calvin Klein Designers Both Step Down

Calvin Klein is about to experience a major makeover. The brand's two creative directors, Italo Zucchelli (pictured, top), who does menswear, and women's creative director Francisco Costa both announced their departure within hours.

Zucchelli spent more than 10 years at the helm of Calvin Klein's menswear collections. He's said to be leaving Calvin Klein as part of a new "global creative strategy." And ex-Dior designer Raf Simons is rumored to be the man who could replace both Zucchelli and Costa to fulfill that vision.

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"This creative strategy marks the beginning of another significant chapter in Calvin Klein's brand legacy since Mr Klein's retirement," Steve Shiffman, Calvin Klein CEO, said. "I would like to thank Francisco and Italo for their unwavering commitment to the Calvin Klein brand and their accomplishments over the past decade. They have both contributed immensely to making Calvin Klein a global leader in the fashion industry, and they have done so with dedication, focus and creativity."

The brand has yet to confirm a successor.