Victoria’s Secret brought back its iconic fashion show and its most expensive fantasy bra ever. What the brand’s high-stakes comeback teaches every business about the trap of the past.
EXPERT OPINION BY KAMYA MARWAH, MARKETING EXPERT
Photo: Getty Images
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I didn’t watch the Victoria’s Secret Fashion Show live, but within hours, social media made sure I knew almost everything about it.
Kylie Jenner had walked in a $50 million Fantasy Bra. Kerala-born model Ravleen Varghese had made her Victoria’s Secret debut. Adriana Lima, Candice Swanepoel, Gigi and Bella Hadid were back on the runway. And some longtime fans had very strong opinions about who should—and shouldn’t—have been given one of the brand’s biggest honors.
That’s probably a good sign for a brand trying to become culturally relevant again.
The Victoria’s Secret Fashion Show returned in 2024 after a six-year hiatus, but this year’s edition went further in bringing back the things people once immediately associated with the brand: angels, wings, supermodels, musical performances and, after eight years away, the Fantasy Bra.
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Except this wasn’t simply a recreation of Victoria’s Secret circa 2005. And the $50 million bra might be the best example of why.
Give fans what they remember—then change it
The Fantasy Bra has been part of Victoria’s Secret history since 1996. Previous versions were worn by some of the models most closely associated with the brand, including Gisele Bündchen, Heidi Klum, Tyra Banks, Adriana Lima, Alessandra Ambrosio and Candice Swanepoel.
For its comeback, Victoria’s Secret didn’t exactly go subtle. Created with Jacob & Co., the 2026 version contains 4,410 natural diamonds, including a 75.54-carat yellow diamond at its center. Fifteen craftspeople spent more than 1,000 hours making it. At $50 million, it’s the most expensive Fantasy Bra the company ever created.