At the IndieWire Honors Winter Film Awards 2025 in Los Angeles, Kristen Stewart dismantled the lingering conventions of black-tie dressing by wearing Calvin Klein Collection Spring 2026 long johns as the centerpiece of her outfit. This was not merely another iteration of the “no-pants” trend that has dominated celebrity street style; it was a calculated, architectural pivot toward utilitarian luxury. By bypassing the fresh offerings of Chanel’s Métiers d’Art 2026 for the debut of Veronica Leoni’s vision at Calvin Klein, Stewart and stylist Tara Swennen have signaled a seismic shift in brand politics and red-carpet semantics. The look—comprising layered white thermal underwear, a ribbed bodysuit, and a sharp black wool blazer—elevates the humble base layer into a proposition of high-concept tailoring, challenging the industry to rethink the boundary between private intimacy and public armor.
The Anatomy of the Look: Deconstructing the Disruption
The outfit debuted at Nya West in Los Angeles was a masterclass in high-low friction, though the "low" here carries the premium weight of the Calvin Klein Collection label. Stewart wore layered long underwear (long johns) over briefs, both in stark white featuring the brand's iconic logo waistband. These were not the flimsy thermals of a ski trip, but the structured, fashion-forward base layers from Veronica Leoni’s Spring 2026 runway.
While the runway presentation styled these pieces with a plunging, pleated crop top in Pantone’s 2026 Color of the Year, “Cloud Dancer,” Stewart’s interpretation was decidedly more rigorous. Working with long-time stylist Tara Swennen, she grounded the fluidity of the underwear with a slightly oversized black wool blazer and classic black pumps. The substitution of the runway’s loafer-style flats for sharp heels transformed the silhouette from “loungewear” to “power suit,” albeit one where the trousers have been stripped back to their molecular level.
The juxtaposition was further heightened by the jewelry. Resting against the ribbed cotton-silk bodysuit was a Fiametta tennis necklace, valued at approximately $19,000. This specific styling choice—placing five-figure diamonds against cotton ribbed knit—encapsulates the modern luxury paradox: the ultimate flex is no longer about volume or embroidery, but about the audacious recontextualization of the mundane.
Veronica Leoni’s Debut: A Strategic Calvin Klein Coup
For the fashion industry, the headline is not just what Stewart wore, but whose label was on the waistband. This appearance marks the first significant red-carpet outing for Veronica Leoni’s Calvin Klein Collection. Leoni, tasked with revitalizing the American heritage brand’s high-fashion credibility, needs more than just positive runway reviews; she needs cultural momentum. Stewart provided exactly that.
PVH Corp, Calvin Klein’s parent company, has long sought to elevate the brand beyond its mass-market underwear dominance into the realm of true luxury pret-a-porter. By securing Stewart—a figure synonymous with subversive fashion choices—for this debut, the brand effectively short-circuited the traditional runway-to-retail lag. The look appeared on the red carpet while the Spring 2026 conversation was still fresh, utilizing the “Cloud Dancer” color story to maintain visual continuity with industry trend reports.
This was a mutually beneficial transaction of cool capital. Leoni received immediate validation from one of Hollywood’s most scrutinized dressers, while Stewart reinforced her reputation as a fashion intellectual who engages with clothing as a medium of disruption rather than mere decoration.
The Chanel Tension: Ambassadorship vs. Autonomy
The silence of Chanel in this moment is deafening. As a long-standing ambassador for the French house, Stewart is frequently expected to champion their latest collections, particularly during the prestigious Métiers d’Art cycle. Her decision to wear an American competitor’s underwear line to a major industry event like the IndieWire Honors suggests a nuanced evolution in her contractual or creative relationships.
This deviation signals a "Brand Ambassador vs. Brand Freedom" tension that is becoming increasingly visible among top-tier talent. The exclusivity of the single-house contract is fraying in favor of moments that offer greater narrative control. By choosing Calvin Klein, Stewart avoided the "couture princess" trap, opting instead for a look that aligns with her personal affinity for gender-fluid, boyish, and abrasive aesthetics.
It is a reminder that in the current celebrity ecosystem, the most valuable currency is authenticity. Stewart’s history with Chanel has been punctuated by her ability to make tweeds look punk; here, she applies that same subversive lens to American sportswear, proving her personal brand is strong enough to transcend house loyalty when the narrative demands it.
Cultural Analysis: From Male Gaze to Modest Rebellion
To categorize this look simply as “underwear as outerwear” is to miss the nuance. The trend, previously defined by the hyper-sexualized aesthetics of visible thongs and sheer lace (championed by figures like Kylie Jenner and Zoë Kravitz), is here reimagined through a queer, utilitarian lens. Long johns are historically unsexy; they are the garments of warmth, function, and the working class.
Stewart’s adoption of the long john is an exercise in “anti-sexy” fashion. It refuses the exposure of the leg that the “no-pants” trend usually demands, instead covering the body in layers of opaque cotton. The provocation lies not in skin, but in the social transgression of wearing “private” clothes in public. It is a styling choice that prioritizes the wearer’s comfort and agency over the observer’s titillation.
This aligns with a broader macro-trend moving toward “undone elegance.” The modern red carpet is increasingly rejecting the stiff, corseted gown in favor of garments that imply a life lived. The visible logo waistbands serve a dual purpose: they are a nod to the logomania that fuels the luxury market, but they also act as a graphic, almost industrial element that breaks the monotony of formal tailoring.
Timeline: The Evolution of Stewart’s Subversion
- 2018: Stewart is photographed wearing Calvin Klein boxers under distressed low-rise shorts. The look is raw, grungy, and signals an early interest in the aesthetics of male underwear.
- 2024: At the Love Lies Bleeding LA premiere, Stewart embraces the extreme “no-pants” trend with a high-cut bodysuit, aligning herself with the risqué edge of red-carpet dressing.
- December 2025: The IndieWire Honors moment. Stewart refines the concept, moving from exposure to layering. The Calvin Klein Spring 2026 long johns introduce a tailored, architectural approach to the underwear narrative.
Business Implications: The Economics of the Waistband
The commercial implications of this moment are stark. While the high-fashion press focuses on the silhouette, the commercial sector sees a powerful merchandising opportunity. The “Shop the Look” modules already appearing in publications like Marie Claire indicate a rapid pivot to monetization. Basics—underwear, tanks, leggings—are high-margin volume drivers.
By elevating these items to the red carpet, Calvin Klein validates a higher Average Unit Retail (AUR) for what are essentially cotton goods. If a consumer believes that long johns are a viable evening option, they are more likely to purchase the premium “Collection” version rather than a generic alternative. The visible waistband ensures that every paparazzi photo serves as a billboard, generating earned media value that rivals a dedicated ad campaign.
Furthermore, this cements the "waistband" as the primary real estate of the Calvin Klein brand. In a crowded intimate apparel market, besieged by Skims and Savage x Fenty, reclaiming the cultural authority of the logo waistband via high-fashion credibility is a critical defensive maneuver for PVH Corp.
Future Forecast: The Thermals Era
What happens next? We are witnessing the dawn of the "Thermals Era" in formal wear. As awards season progresses, expect to see a diffusion of this aesthetic. Stylists will likely interpret the "base layer" trend for other clients, substituting traditional trousers for embellished leggings, thermal knits, and boxer-short hybrids.
We predict a surge in "elevated loungewear" on the red carpet, where the focus shifts to texture—ribbed knits, silk blends, and cashmere—rather than structure. For Kristen Stewart, this moment likely prefigures a deeper collaboration with Calvin Klein or a similar American sportswear giant. She has proven she can sell the "un-sellable" (long underwear at a gala), making her the ultimate asset for brands looking to pivot their perception.
Ultimately, this look challenges the industry to accept that in 2026, the most formal thing a woman can wear is her refusal to be uncomfortable.
Expert Insights: The Verdict
Industry voices have coalesced around the significance of this styling choice. Red Carpet Fashion Awards highlighted the philosophical weight of the ensemble, asking, “How far can underwear travel before it stops feeling private and starts working as public dress?” This question is central to the look’s impact. It is not a malfunction; it is a migration.
Meanwhile, the market response suggests that this is a “demure shift” from the shock tactics of previous years. By anchoring the underwear with a blazer and pumps, Stewart and Swennen have rendered the radical palatable. They have created a permission structure for the fashion-conscious consumer to experiment with base layers as primary garments, validating the commercial strategy of Veronica Leoni before her collection even hits the sales floor.
Written by Ara Ohanian for FAZ Fashion — fashion intelligence for the modern reader.
