Australian model Miranda Kerr donned the Fantasy Treasure Bra - worth $2.5 million - for the event. The aqua push-up bra reportedly features nearly 3,400 hand-set precious gems, including white and yellow diamonds, pearls, citrines and aquamarines, all set in white and yellow gold.
Adriana Lima, Doutzen Kroes, Chanel Iman and Candice Swanepoel are among the other models featured in the show, wearing bras and panties accessorized with lace-up stilettos, tutus, flamenco skirts and leg warmers.
The lingeries isn't the only reason to tune in - there are also performances from Kanye West, Nicki Minaj and Maroon 5. Jay-Z also made a surprise appearance, performing a song with West from their "Watch the Throne" album.
Last year, the Victoria's Secret Fashion Show had the most viewers in its timeslot: about 9 million in the U.S., according to Nielsen. The show airs in more than 90 countries.
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