Victoria's Secret 2026 Show Revives Fantasy Bra with $50M Diamond Piece

Key points

• Kylie Jenner wore the 2026 Fantasy Bra, valued at approximately $50 million and featuring over 4,000 diamonds, signaling the return of the iconic high-value jewelry centerpiece.
• Adam Selman, who joined Victoria's Secret in 2025 as executive vice president and chief creative officer, directed the second annual runway show under his leadership.
• The event featured live performances from Megan Thee Stallion, Tate McRae, Katseye, and Megan Moroney, alongside a diverse model roster including Paloma Elsesser, Candice Swanepoel, and Irina Shayk.
• The brand reported a 10 percent increase in net sales in the second quarter of 2026, indicating a successful recovery from the all-time low profits recorded in 2020.
• Protests occurred outside the venue in Culver City, commemorating the 2025 death of garment worker Paramasivam Pushpalatha, who was employed at a Brandix factory producing goods for Victoria's Secret.

Background

The 2026 show is the second major runway event under Adam Selman's creative direction. Previous coverage noted the brand's struggle with declining profits and workplace harassment allegations in the early 2020s. The 2025 show marked the initial return of the format, while the 2026 event expanded the scope with a higher-profile celebrity lineup and a more expensive Fantasy Bra.

How outlets are covering it

The Washington Post emphasized the show's deliberate return to overt femininity and nostalgia, noting that the loud, unapologetic aesthetic successfully re-engaged the brand's core audience. E! Online focused primarily on the visual spectacle, highlighting the diverse model lineup and the celebrity red carpet appearances. While the Washington Post acknowledged the off-site protests regarding labor conditions, it framed the internal event as a successful commercial and cultural reset, contrasting the outside activism with the celebratory atmosphere inside the venue.

Why it matters

The event signals a potential turnaround for Victoria's Secret, a brand that faced significant cultural and financial challenges in the late 2010s and early 2020s. The return of the Fantasy Bra and the positive sales figures suggest that the brand's strategy of blending high-fashion spectacle with accessible lingerie is resonating with consumers again, despite ongoing scrutiny of its supply chain and workplace culture.

What to watch

Analysts will monitor whether the second-quarter sales increase translates into sustained growth through the end of 2026. The brand may face continued pressure to address labor practices in its supply chain, as highlighted by the protests during the show. Future runway events will likely continue to feature high-value jewelry and celebrity collaborations to maintain media attention.