On BNet, author Jim Edwards has collected an impressive array of Medicis Annual Report covers past and present, and ponders the company’s use of naked female flesh to get across a few points, consciously laid bare (or maybe not so consciously). At Medicis, Another Annual Report Means Another Naked Woman:

Medicis’ covers are all perfectly tasteful, of course. But they’re a bit too perfect — they seem to have received as much attention from Photoshop as they have from one of Medicis’ syringes. The company’s message to its customers is not subtle. You don’t need to have attended a feminist theory class to decipher the subtext of the 2006 report, which showed an image of a nude woman sliced into four quadrants under the headline “Clarity of Purpose.”

Read it all.