Old shit alert, Louis clothes
Callin women bitches, Louboutins and Gucci shows
from Lupe Fiasco – Lupe Back Lyrics on Rap Genius
Meaning
Same tired brands every rapper drops. Lupe is calling out and mocking the monotonous sexism and materialism over-played in hip hop

Also could be a reference to Jay-Z’s “New watch alert” from Otis
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