The $50 Million Comeback: Jacob & Co.’s Victoria’s Secret Fantasy Bra

After an eight-year hiatus, the Victoria’s Secret Fantasy Bra is back. Created by American high jewellery house Jacob & Co. and worn by Kylie Jenner at the Victoria’s Secret Fashion Show in Los Angeles on 18 October, the latest incarnation is valued at an eye-watering $50 million, making it the most expensive Fantasy Bra to date. Set with thousands of natural diamonds, including a 75.54-carat Fancy Vivid Yellow stone, it’s a suitably glitzy comeback for this iconic undergarment.

The Fantasy Bra began life in 1996, when Claudia Schiffer modelled the $1 million ‘Million Dollar Miracle Bra’ for the Victoria’s Secret catalogue. What started out as a publicity stunt became an annual tradition, with some of the world’s most famous supermodels wearing increasingly lavish creations by jewellers including Harry Winston and Mouawad. 

Until this year, the most expensive Fantasy Bra was the $15 million ‘Red Hot Fantasy Bra’, created by Mouawad and modelled by Gisele Bündchen in 2000. The last Fantasy Bra appeared in 2018, a year before Victoria’s Secret cancelled its annual runway spectacle amid declining ratings. The event returned in 2024, and now the Fantasy Bra has followed, bringing back some of the glamour and sparkle that made the original shows such a cultural phenomenon.

The Style: The Jacob & Co. Treatment

The sculptural cups of Jacob & Co.'s 2026 Fantasy Bra are covered in thousands of round brilliant-cut diamonds, bezel-set in diagonal rows that follow the curves of the body. Larger diamonds in a variety of cuts are positioned at angles along the plunging neckline, while beneath the cups, free-flowing rows of diamonds add a shimmering fringe, the strands tipped with pear-, heart- and emerald-cut stones. 

Between the cups sits an oversized, diamond-set Jacob & Co. monogram, just above the yellow diamond. Turn the bra around and you’ll spot another signature of the House: decorative buckle-style clasps borrowed from the jeweller’s Rare Touch collection. Launched in 2016, Rare Touch explores how linked gold can behave like fabric, an idea taken to new extremes here.

The Stone: A 75.54-Carat Ray of Sunshine

Suspended between the cups is a 75.54-carat Fancy Vivid Yellow diamond, accompanied by two round brilliant-cut white diamonds weighing a combined 11.85 carats.Graded VS2 clarity, this splash of sunshine has been fashioned into a radiant cut, with brilliant-style facets that intensify its rich, saturated colour. Fancy Vivid is the highest colour-intensity grade awarded to yellow diamonds, reserved for stones with the greatest saturation And if one super-sized yellow diamond wasn’t enough, the Fantasy Bra is set with another 4,409 natural white diamonds, bringing the total to an astonishing 1,373.39 carats.

The Skill: Making Thousands of Diamonds Move Like Fabric

“For me, it had to be about the diamonds, the light and the movement,” explains Jacob & Co. founder Jacob Arabo (below). Starting with a pencil sketch and a full-size cardboard model, the design team developed 3,218 individual components for the Fantasy Bra, each cast in 18k gold. 

Different diamond settings were chosen according to their position, with individually linked settings allowing the long fringe to swing freely. Every section had to follow the contours of the body while keeping thousands of diamonds securely in place. It took 15 artisans more than 1,000 hours to complete, with the pieces assembled by hand on a dressmaker’s bust.

Whether the $50 million Fantasy Bra will ever be worn again remains to be seen, but Jacob & Co. has certainly given Victoria’s Secret the spectacular comeback it was hoping for.