The covers are shot by Rafael Pavarotti. (source)
Click here to view last year cover featuring Caroline Ribeiro, here to view 2015 cover featuring Gigi Hadid, here to view last year cover featuring Karlie Kloss, here to view 2013 cover featuring Kate Upton, here to view 2012 cover featuring Gisele Bundchen, here to view 2011 cover featuring Gisele Bundchen, here for 2010 cover with Alessandra Ambrosio and here for 2009 cover with Caroline Trentini.