Lingerie giant Victoria's Secret unveiled its new, jewel-encrusted 2012 Fantasy Bra at the company's New York flagship store.

The company has come out with an elaborately bejeweled bra every year since 1997, and this one is estimated to be worth $2.5m.

The Fantasy Bra has been part of the company's fashion show line up since 2001, and is worn by a model known as a "Victoria's Secret Angel".

This year's chosen angel is Brazilian model Alessandra Ambrosio, who loved the design.

She said: "It's so unique you know it's this piece of art that you get to wear and it has over 5000 precious gems so you just have all these diamonds around and you have this 20 carat diamond right here."