This is the cover of the May 2010 issue of Vogue Italia, which was shot by Steven Meisel and features models Daria Strokous and Kirsi Pyrhonen.
I gotta say, there's a lot to like about this.
I'm digging the fact that, rather than treating the title as an aesthetic obstacle that should be ignored, they instead took the more playful route of having the model peeping out from behind the "O."
(After all, nobody said that leather-clad dominatrix queens had to be completely devoid of charm...)
Besides, it's much better than the May 2010 Vogue Nippon approach:
"Okay, let's just pretend that the "G" got lost somewhere in her poof. That's plausible enough."
Aside from that, I also enjoy how the acrobatic positioning of the models seems to wonkify the perspective.
Are they bending over, with one girl standing on a stool, or has the image simply been rotated in post-production?
Hmm... It suddenly occurs to me that I'm probably the only person who cares about answering such pointless questions.
Ah, forget it. I'm just gonna go with my initial gut-reaction:
"It's leather! It's fierce! It's fashion!"
... There. I just saved you a bunch of time, while also managing to completely waste it.
(And that kind of incompetence takes practice, so appreciate.)