"_____ is the new black" is a catch phrase used to indicate the sudden popularity or versatility of an idea at the expense of the popularity of a second idea. It is the originator of the phrasal template "X is the new Y". The phrase seemed to have started in the 1950s or 1960s and became very popular in the 1980s. Since then it has often been used for ironic or humorous purposes.
A closer early approximation of the phrase is Vreeland's pronouncement, quoted in 1962, that "I ADORE that pink ... it's the navy blue of India." Vreeland meant that in India the color pink was the functional equivalent to blue in the USA, that is a common foundation or basic, much like navy blue was the base color of most ensembles in New York City.
Pink is the new red",
"Orange is the new pink" and "Heath Ledger is the new Matt Damon."
Big is the new small
small is the new big
Quiet Is the New Loud
black is this year's pink
Gay is the new black
30 may be the new 20, but Green is definitely the new black" slogan used by Vitamin Water
"Saving is the new Spending" UBank, a division of National Australia Bank
Try blue. It's the new red!"