Recession? What recession? Next month, Victoria’s Secret will launch a US$2,5 million bra at their annual fashion show in New York. The 2011 Fantasy Treasure bra boasts 3 400 white and yellow diamonds totalling 142 carats, and was inspired by sea shells, and buried treasure, apparently.

It took a team of jewelers in the UK 500 hours to individually stitch the gems to the bra. Orlando Bloom’s other half, Australian model Miranda Kerr, will model the bra at the fashion show, and was in New York this week modelling alongside it and in it.

Each year, Victoria’s Secret selects a top international model to debut a new Fantasy Bra, which is typically covered in precious stones. The Fantasy Bra in 2000 still holds the world record, costing a dazzling US$15 million at the time. It was modeled by Giselle Bundchen.

If you can’t get to New York this time next month to see Miranda in her pricey undies, here’s a sneak peek. That’s quite a set of stones. Happy Friday!

[Source: Sydney Morning Herald, Mirror]