Victoria’s Secret reboots its fantasy with a $50M diamond bra

On Sunday night, just when you thought the megawatt spectacle that is the Victoria’s Secret runway show couldn’t get any glitzier, out struts Kylie Jenner in a $50 million diamond brasserie.

The “Fantasy Bra” is a Victoria’s Secret signature stunt — since 1996, the lingerie brand has designed roughly one bejeweled push-up bra per year, primarily for elevating catwalks. Claudia Schiffer was the first model to wear a Fantasy Bra in a photo shoot, while the last was Elsa Hosk on the runway in 2018 — both were valued at the time at a comparatively modest $1 million .

This year, the price tag of previous versions was dwarfed by Jacob & Co.’s $50 million creation. The luxury jewelers engineered Jenner’s bustier out of 91 large white diamonds ranging at between 5 and 18 carats each. At the bra’s center sat one yellow diamond over 75 carats. For a brand emerging from a rocky few years of public criticism and revenue losses, it read as a defiant investment into its own fantasy.

Celebrities from Timothée Chalamet and Kris Jenner to Nicole Kidman and Dylan Sprouse watched the procession of familiar Victoria’s Secret Angels such as Joan Smalls and Candice Swanepoel, as well as newer recruits like Paloma Elsesser and Alex Consani. Model Bella Hadid opened the show with a pair of delicate floral wings that looked more comfortable than those of previous shows. “The wings are so much lighter this year, so the girls are really walking ,” said Consani backstage. Models strutted in a range of sheer to sportier takes on lingerie, soundtracked to live performances from global girl group Katseye, rapper Megan Thee Stallion and pop singer Tate McRae.

Solange Omon was unveiled as the winner of “Angels Among Us” — Victoria’s Secret new social-first reality show posted on YouTube in the weeks leading up to the event. The “America’s Next Top Model”-style series, spearheaded by the brand’s new chief creative officer Adam Selman, captures an ambitious open casting call process to recruit just one model. The competition begins in malls across the US, with thousands lining up to have their runway walk judged by a panel including Selman, Elsesser, Ashley Graham and Gigi Hadid. It’s clear that public appeal towards the brand remains — aside from the staggering number of applicants, the first episode, posted two weeks ago, has over 5 million views.

Since his appointment in April 2025, part of Selman’s job has been to contend with the controversial legacy of Victoria’s Secret. Links to Jeffrey Epstein sullied the brand’s reputation, while existential questions over whether its lingerie runway shows — which have been going since 1995, aside from a 6-year hiatus starting in 2019 — are patriarchal or empowering resurface each year like clockwork. In its official comeback show in 2024, before Selman joined, the brand attempted a quick course correct after decades of promoting one body type in the interest of “fantasy.” Plus-size and transgender models were cast for the first time in Victoria’s Secret history, though many called it tokenistic and “woke-washing.” At the beginning of 2026, the brand’s CEO Hillary Super told Fortune it has a commitment to diversity “without being performative, where we have to check every box.” The balancing act seemed to have worked — earlier this summer, the company doubled its share price on the stock market, according to Fortune .

For his second Victoria’s Secret runway show, Selman is continuing to toe that line between brand heritage and contemporary attitudes, embracing the fact that it appears the sex-appeal, the glamour, the fantasy, is in some ways, still what people want. His next generation Angels (Graham, Elsesser, Consani, Omon) walk alongside those such as veteran catwalker Adriana Lima, who racked up her 21st show for the brand Sunday night.

Scroll down to see exclusive photos — on and off the runway — from the event.

周日晚上，正当你以为维多利亚的秘密时装秀这场盛大的视觉盛宴已经足够耀眼夺目时，凯莉·詹娜身着价值 5000 万美元的钻石礼服惊艳亮相。

“梦幻胸罩”（Fantasy Bra）是维多利亚的秘密的标志性噱头——自1996年以来，该内衣品牌每年都会设计一款镶满珠宝的聚拢型胸罩，主要用于提升T台走秀的视觉效果。克劳迪娅·希弗是第一位在拍摄中佩戴“梦幻胸罩”的模特，而最近一位则是艾尔莎·霍斯克在2018年的T台上佩戴——当时这两款胸罩的估价都相对较低，约为100万美元。

今年，Jacob & Co. 耗资 5000 万美元打造的这款珠宝，令以往版本的价格相形见绌。这家奢侈珠宝商用 91 颗硕大的白钻为詹娜打造了这款胸衣，每颗钻石的重量在 5 克拉到 18 克拉之间。胸衣中央镶嵌着一颗超过 75 克拉的黄钻。对于一个刚刚走出几年公众批评和收入下滑困境的品牌来说，这无疑是对其自身幻想的一次大胆投资。

从蒂莫西·柴勒梅德和克里斯·詹娜到妮可·基德曼和迪伦·斯普罗斯，众多明星都前来观看维多利亚的秘密天使们的走秀，其中包括琼·斯莫尔斯和坎蒂丝·斯瓦内普尔等熟悉的面孔，以及帕洛玛·埃尔塞瑟和亚历克斯·康萨尼等新晋天使。模特贝拉·哈迪德身着一对精致的花朵翅膀为大秀拉开序幕，这对翅膀看起来比以往的更加舒适。“今年的翅膀轻盈多了，所以模特们走起路来更加轻松自如，”康萨尼在后台说道。模特们身着从轻薄到运动风的各种内衣，伴着国际女子组合Katseye、说唱歌手Megan Thee Stallion和流行歌手Tate McRae的现场表演，自信地走秀。

索兰格·奥蒙 (Solange Omon) 被揭晓为维多利亚的秘密 (Victoria's Secret) 全新社交媒体真人秀节目“天使在我们之间 (Angels Among Us)”的冠军。该节目在颁奖典礼前几周已在 YouTube 上线。这档由品牌新任首席创意官亚当·塞尔曼 (Adam Selman) 主导的“全美超模大赛 (America's Next Top Model)”式真人秀，记录了一场雄心勃勃的公开选拔过程，最终只选出一位模特。比赛在美国各地的购物中心拉开帷幕，成千上万的参赛者排队等待走秀，评委包括塞尔曼、艾尔塞瑟 (Elsesser)、阿什利·格雷厄姆 (Ashley Graham) 和吉吉·哈迪德 (Gigi Hadid)。显然，公众对维多利亚的秘密的喜爱依然不减——除了惊人的报名人数外，两周前发布的第一集观看量就已超过 500 万次。

自2025年4月上任以来，塞尔曼的部分工作便是应对维多利亚的秘密充满争议的历史遗产。与杰弗里·爱泼斯坦的关联玷污了该品牌的声誉，而关于其内衣秀——自1995年以来，除2019年开始的六年中断外——究竟是父权制的还是赋权的，这一根本性问题每年都会如期而至。在塞尔曼加入之前，维多利亚的秘密于2024年正式回归，试图在数十年来为了迎合“幻想”而推崇单一身材之后，迅速做出调整。该品牌历史上首次启用了大码模特和跨性别模特，但许多人认为这只是象征性的“觉醒洗白”。2026年初，该品牌首席执行官希拉里·苏珀告诉《财富》杂志，维多利亚的秘密致力于多元化，“但并非作秀，并非事事都要面面俱到”。这种平衡策略似乎奏效了——据《财富》杂志报道，今年夏天早些时候，该公司在股市上的股价翻了一番。

在塞尔曼执导的第二场维多利亚的秘密时装秀上，他继续在品牌传统与当代潮流之间寻求平衡，并欣然接受这样一个事实：性感、魅力和梦幻感，在某种程度上，仍然是人们所追求的。他的新一代天使（格雷厄姆、埃尔塞瑟、康萨尼、奥蒙）与资深超模阿德里亚娜·利马等同台亮相，利马在周日晚完成了她为该品牌走秀的第21场。

向下滚动即可查看本次活动的独家照片——包括秀场内外的精彩瞬间。