Victoria’s Secret has brought back the Fantasy Bra, and this time the creation belongs to a high jewellery house. Jacob & Co. designed and built the 2026 Fantasy Bra in partnership with the American lingerie brand, and Kylie Jenner wore it on the runway in Los Angeles for the return of the Victoria’s Secret Fashion Show. Valued at $50 million, it is the most valuable Fantasy Bra ever made.

The piece pairs the spectacle of the runway with the standards of the jeweller’s bench. More than 4,410 natural diamonds weighing a combined 1,373.39 carats were set by hand, and the finished bra brings together 3,218 individually designed components produced across more than 1,000 hours of work by a team of fifteen artisans.

A $50 million centrepiece

At the centre sits a singular 75.54-carat radiant-cut natural diamond, graded Fancy Vivid Yellow with VS2 clarity by the Gemological Institute of America. Fancy Vivid is the institute’s highest grade for intensity of colour, and the radiant cut was chosen for what it does with colour: brilliant-style faceting beneath a cropped-corner outline sends light on a longer path inside the stone, so the yellow fills it from edge to edge. Two round brilliant white diamonds totalling 11.85 carats complete the centrepiece.

Around it stand 91 large natural white diamonds totalling 405.06 carats, selected in six shapes including the house’s proprietary Angel-cut, alongside pear, round brilliant, heart, oval and marquise stones ranging from 5.01 to 18.59 carats. All are graded E-F in colour and VVS2 to VS1 in clarity. A further 4,318 round diamonds add 892.79 carats to the total.

The figure makes the 2026 edition the most valuable in a tradition that dates back to 1996, when the first Fantasy Bra appeared on the Victoria’s Secret runway and quickly became one of fashion’s most recognised objects. Its return, driven by overwhelming fan demand, handed the commission to a house better known for diamonds than lingerie.

Engineered to move with the body

The brief was unusual for fine jewellery: a bra built entirely from gold and diamonds still had to behave like lingerie, following the curves of the body while remaining comfortable and secure in motion. Every element, from the contour of the cups to the framing bars, was developed around that requirement, and the cups curve inward toward the centre like a fabric bra rather than the flatter forms of conventional jewellery construction.

The process began with a hand sketch in pencil, with the dimensions of each stone noted alongside. A full-scale maquette followed, cut and shaped in flexible chipboard and measured on a bust form through numerous rounds of revision, before a detailed digital model divided the piece into roughly 3,218 elements. Each component was then cast in 18K white gold by the lost-wax method, cleaned, filed and pre-polished by hand ahead of assembly.

Each strand of the fringe is a chain of individually cast settings, linked one to the next so that it moves freely with the body, while the framing bars beneath the cups are finished with a subtle knife edge shaped around how the metal rests against the rib cage. Working from detailed layout maps, the artisans assembled the structure section by section on the bust form before the diamonds were set by hand.

A fabric of diamonds

The design draws on the house’s Rare Touch Jewellery Collection, a study in how precious metal can be shaped to move with the body like fabric. Diamonds sit within articulated structures held by round and eagle-claw prongs, bezels and pave settings, each type chosen so that individual stones stay secure in motion while the surface reads as one continuous field of light.

“We wanted to create the most spectacular Fantasy Bra ever made, but value alone was never enough,” said Jacob Arabo, founder, chairman and creative director of Jacob & Co. “For me, it had to be about the diamonds, the light and the movement. The craft is extraordinary, and what matters most is the emotion it creates when you see it come to life on the runway.”

Adam Selman, executive vice president and chief creative officer of Victoria’s Secret & Co., said the choice of partner was a straightforward one. “When we decided to bring back the Fantasy Bra this year, I couldn’t think of a more perfect person to design it than Jacob,” he said.

“He has played a big role in shaping pop culture, and he designs for the person wearing it. That’s what Victoria’s Secret is all about,” he added.

Forty years in a single piece

The commission also celebrates the house’s fortieth anniversary, gathering four decades of work in high jewellery, rare stones and bold design into a single piece created for the return of one of fashion’s best-loved traditions. Jacob & Co. served as Official Partner of the 2026 Victoria’s Secret Fashion Show, placing the New York house at the centre of one of the largest stages in fashion and entertainment.

As a calling card for the maison’s craft, few objects could match it. The 2026 Fantasy Bra is a gallery piece and a runway piece at once, and its return ensures the tradition’s most valuable chapter belongs to jewellery as much as to fashion.

For a business that began with a single workshop, the symbolism needs no explanation. Watch collectors already know the Jacob & Co. name; a global television audience now associates it with the most famous diamond creation of the year, worn on one of the most watched runways in the world.