UPDATED JULY 21ST 2017: Added new cover version.
The cover is shot by Luigi & Iango. (source)
Click here to view last year cover featuring Bella Hadid, here to view 2015 cover featuring Katy Perry, here to view 2014 cover featuring Claudia Schiffer, Nadja Auermann, Naomi Campbell, Linda Evangelista and Stephanie Seymour. Click here to view 2013 cover featuring Cara Delevingne, here to view 2012 cover featuring Karlie Kloss, here to view 2011 cover featuring Karolina Kurkova, here for 2010 cover with Natasha Poly and here for 2009 cover with Iris Strubegger.