The $15 Million Secret: 10 Jaw-Dropping Victoria's Secret Fantasy Bras And Why They Vanished From The 2024 Show

The Victoria's Secret Fantasy Bra is more than just a piece of lingerie; it is a cultural icon, a symbol of extreme luxury, and a cornerstone of the brand's legendary Fashion Show. For over two decades, the reveal of the annual, multi-million dollar, diamond-encrusted bra was the most anticipated moment on the runway, worn by the world's most elite Supermodels, known as 'Angels.' This tradition created some of the most expensive pieces of clothing ever made, with values soaring up to a staggering $15 million.

As of December 2025, the conversation around the Fantasy Bra has shifted dramatically. Following the brand's highly-publicized return to the runway with the Victoria’s Secret Fashion Show in 2024, one item was conspicuously missing: the beloved, or perhaps controversial, Fantasy Bra. Its absence signals a profound change in the brand's direction, moving away from the unattainable fantasy of the past and into a new era of inclusivity and modern marketing.

The $15 Million Legend: A Complete History of the Victoria's Secret Fantasy Bra

The tradition of the Fantasy Bra began in 1996, but it only became part of the televised Fashion Show in 2001. Each piece was a unique collaboration with a world-renowned jeweler, most notably Mouawad, and was valued between $1 million and $15 million. The cumulative value of all Fantasy Bras created to date is well over $200 million. Here is a look at the most iconic and expensive Fantasy Bras that ever graced the runway, solidifying their place in fashion history:

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• 1996: The Million Dollar Miracle Bra (Value: $1 Million)
  Model: Claudia Schiffer. This was the first-ever Fantasy Bra, though it was only featured in the catalog, not the runway show. It was a simple, yet groundbreaking, diamond-encrusted push-up bra.
• 1997: The Diamond Dream Bra (Value: $3 Million)
  Model: Tyra Banks. This bra featured diamonds and was the first of two Fantasy Bras worn by the iconic supermodel.
• 1999: The Millennium Fantasy Bra (Value: $10 Million)
  Model: Heidi Klum. Set with 2,000 diamonds and sapphires, this bra celebrated the new century.
• 2000: The Red Hot Fantasy Bra (Value: $15 Million)
  Model: Gisele Bündchen. This piece holds the Guinness World Record as the most expensive piece of lingerie ever created. It featured 1,300 gemstones, including 300 carats of Thai rubies.
• 2003: The Very Sexy Fantasy Bra (Value: $11 Million)
  Model: Heidi Klum. A stunning piece featuring a 70-carat pear-shaped diamond centerpiece, marking Klum’s second Fantasy Bra.
• 2007: The Holiday Fantasy Bra (Value: $4.5 Million)
  Model: Selita Ebanks. This festive bra incorporated diamonds, rubies, emeralds, and yellow sapphires, designed to look like a holiday bow.
• 2010: The Bombshell Fantasy Bra (Value: $2 Million)
  Model: Adriana Lima. This bra was adorned with over 3,000 brilliant-cut white diamonds, light blue sapphires, and oval-shaped topazes.
• 2013: The Royal Fantasy Bra (Value: $10 Million)
  Model: Candice Swanepoel. Created by Mouawad, this bra featured over 5,400 precious gems, including a massive 42-carat ruby centerpiece, and came with a matching belt.
• 2014: The Dream Angels Fantasy Bras (Value: $2 Million Each)
  Models: Adriana Lima and Alessandra Ambrosio. For the first and only time, two Angels wore a Fantasy Bra, celebrating the show's return to London.
• 2018: The Dream Angels Fantasy Bra (Value: $1 Million)
  Model: Elsa Hosk. This was the final Fantasy Bra to appear on the runway before the show's hiatus, featuring over 2,100 Swarovski-created diamonds and a centerpiece topaz.

Diamonds and Controversy: The Models Who Wore the Million-Dollar Masterpieces

Being chosen to wear the Fantasy Bra was considered the highest honor for a Victoria's Secret Angel, a career-defining moment that cemented their status as a Supermodel. This tradition created an exclusive club of women who had the privilege of modeling these masterpieces. The jewelers, primarily Mouawad, spent hundreds of hours meticulously crafting each piece, often using thousands of carats of diamonds, sapphires, rubies, and emeralds.

The models who wore the bra—including Daniela Peštová, Karolina Kurkova, Miranda Kerr, Lily Aldridge, Jasmine Tookes, and Lais Ribeiro—became synonymous with the brand's peak era of glamour and spectacle. The sheer value and exclusivity of the bra served as a powerful marketing tool, generating billions of media impressions globally. However, this extreme opulence also became a point of significant controversy.

Critics argued that the multi-million dollar pieces represented an unattainable and outdated ideal of beauty and luxury, especially as the brand faced scrutiny for its lack of diversity and its focus on a hyper-sexualized image. The Fantasy Bra, in a way, became a symbol of the very issues the brand needed to address to survive in a modern, body-positive fashion landscape.

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The End of an Era? Why the Fantasy Bra Was Missing from the 2024 Victoria's Secret Fashion Show

After a five-year hiatus and a complete corporate rebrand, the Victoria's Secret Fashion Show officially returned in 2024. The new show promised a more inclusive cast of models, diverse body types, and a refreshed focus on modern femininity. The return was highly anticipated, but the absence of its most famous centerpiece—the Fantasy Bra—spoke volumes about the brand's new direction.

The decision to drop the Fantasy Bra appears to be a deliberate strategic move to align with the brand's new ethos. The old Victoria's Secret show, which was criticized for being "out of touch" and sexist, relied heavily on the spectacle of the bra to drive buzz. The new era, however, is attempting to distance itself from the "unattainable fantasy" that the diamond-encrusted piece represented.

The Shift to Inclusivity and Modernity

The multi-million dollar price tag and the exclusivity of the Fantasy Bra clashed directly with the brand's goal of becoming a more relevant and inclusive retailer. By eliminating the bra, Victoria's Secret signaled a commitment to focusing on the clothing, the models, and the overall message of female empowerment, rather than a single, expensive showpiece. The 2024 show, which also did not feature the traditional Swarovski Wings, was a celebration of diverse hair textures and body types, marking a clear break from the past.

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While some long-time fans of the show expressed disappointment at the loss of the iconic spectacle, the decision is a reflection of economic realities and cultural shifts. The cost of producing a $10 million piece of jewelry that is only worn once and then dismantled—as many of the bras were—is a difficult expenditure to justify in a tighter retail market. Furthermore, the brand is focusing on selling its core products, and a $15 million bra has little connection to the average consumer's purchasing habits.

The Fantasy Bra may be gone from the runway, but its legacy as one of the most extravagant and talked-about traditions in fashion history remains secure. Its absence in 2024 is the ultimate proof that the brand is committed to a fundamental transformation, trading in the diamonds of the past for a more diverse and accessible future.