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They're emulating the success of PINK and HOLLISTER, maybe? Those brands have been using plain block letters on blah garments for years.

I doubt it. Hollister sells $32 jeans. No one in the luxury space wants to copy that.

They are probably copying Tom Ford which uses Gotham. Tom Ford sells $4000 leather bags.

And PINK sells sweat pants with really ugly giant lettering. That's the font the high end is emulating.