Wings, Diamonds and the $50M Fantasy Bra

Victoria's Secret took its first West Coast edition to Sony Pictures Studios in Culver City on October 18, and executive creative director Adam Selman built the night around the four seasons — Spring, Summer, Autumn, then Winter one and Winter two, with a dedicated PINK segment in the middle. Bella Hadid opened in neon green: a floral-embroidered bra, a sheer green mini skirt held up by garters, and branch-like wings covered in tiny flowers rising behind her like a tree. The spectacle is back at full volume — 800 pounds of glitter on the runway, wings in every shape and color.

The night's genuine shock was Kylie Jenner. The first non-model to wear the Fantasy Bra, she walked in a $50 million Jacob & Co. creation — 4,410 natural diamonds including a 75.54-carat yellow center stone reportedly valued at $22 million, built by 15 craftspeople over 1,000 hours, weighing just under four pounds. It is the most expensive Fantasy Bra ever made — Gisele Bundchen's $15 million version from 2000 held the old record — and the first to appear on the runway since Elsa Hosk wore one in 2018. She paired it with white lingerie and oversized feathered wings, cheered on by Timothee Chalamet and Kris Jenner from the front row.

Music did the heavy lifting between sets, and the lineup was all women. Tate McRae debuted her new single "Housewife" live in a red fishnet corset with tulle wings — telling W magazine beforehand that "my body is my costume" — and shared the catwalk with Gigi Hadid. Megan Moroney entered with a glittering guitar and oversized fuzzy pink wings; KATSEYE performed "Pinky Up" in the PINK segment in shimmering corsets and charm-adorned body chains; Megan Thee Stallion closed the bill in black lingerie with silver wings, performing "Her" and "Body" in the Winter Reprise. The export for the racks: lingerie as outerwear — corsets, sheer skirts, garter belts — all over the pink carpet too.

Moncler didn't cast a campaign; it staged a coronation. For the 2026 chapter of Re/Icons, Gabriel Moses photographed three generations of cultural power — Cher, Grace Jones and JENNIE — each placed at the center of her own crowd, each in a reworked archive jacket. The reference point is alpine pioneer Lionel Terray, one of Moncler's earliest expedition collaborators. The proposition: a seventy-year-old jacket still matters if the woman wearing it has outlasted every trend cycle.

The jackets are specific, not generic heritage. Cher wears the 2009-era Himalaya in cream and the '80s Verone in black, finished with a yellow scarf that quotes the Bob Mackie scarf dress from The Cher Show — in the campaign film she tugs it to set her dancers in motion. Grace Jones takes the 1954 Karakorum, the jacket born for the Italian K2 expedition, in deep violet, styled with a nod to Jean-Paul Goude and flanked by lookalikes in her signature makeup. JENNIE wears the black Karakorum with a caramel Tibb gilet, plus an off-white puffer skirt, ribbed top and balaclava.

This chapter is bigger than the jackets. Re/Icons has grown into its first-ever ready-to-wear line — windbreakers, tees, pants, skirts — plus beanies, balaclavas, silk-twill foulards and titanium-and-leather sunglasses modeled on vintage climbing goggles. A physical lookbook and a feature film with director Daniele Vicari are in the works. Moncler isn't reissuing mountaineering gear; it's building a mythology around it. The collection is available now at moncler.com and select stores.

Elie Saab has dressed brides for four decades, and on October 22 his bridal universe lands at H&M prices. The 55-piece ELIE SAAB H&M collection — launching online and in select stores in Dubai, Paris and New York — hides its most emotional piece in plain sight: a limited mermaid bridal gown with a hand-embroidered veil, revealed September 28 at the Palais Brongniart in Paris with Robin S on the soundtrack and Amelia Gray, Imaan Hammam and Anok Yai in the crowd.

Saab's own framing gives it weight: "Bridal is where everything began, the moment where the language of ELIE SAAB found its voice." The house is pitching the gown and veil not as disposable collab trophies but as heirloom pieces — to be worn, treasured, handed down. H&M's Ann-Sofie Johansson said the team was moved watching Saab at work on the gown in the studio. In a collaboration economy built on speed and scarcity, bridal runs on a different emotional register, and that friction is the point.

The rest of the wardrobe earns its place too: embellished gowns, fine lace and degrade sequins — a green-to-black bustier gown, a gold-to-black sequined blazer — sharply cut tailoring, dramatic capes, a brown leather bomber with a matching pencil skirt, plus knitwear, menswear and accessories. The veil and gown will be the sellout story; the sequined blazer is the piece that lives past the wedding.

Fall's fabric story is softness you can feel through the screen. The suede bag has quietly become the season's status carrier — slouchy, unstructured, the opposite of the rigid logo tote. Khaite's Lotus, the scarf-inspired silhouette that drapes like fabric, leads the pack: the Mini Lotus in Golden Olive suede, velvety calfskin with a gold chain toggle, nappa-lined, at $2,800. It reads like money without showing a logo.

The styling logic is simple — suede does the talking, so everything else stays quiet. It sits naturally next to the season's other textures: the plush faux-fur coats at Bottega Veneta and Valentino, the shearling moment, the fringe that Proenza Schouler's Rachel Scott sent down the runway as FW26's party trim. Khaite even made the fringed version — the Lotus Nano in fringed suede, about 2,435 euros at Mytheresa — for those who want their softness with movement.

What makes suede the right bag for right now is its register: expensive but not loud. In a season of $50 million diamond bras and maximalist wings, the quiet flex of a buttery tote is its own kind of confidence. Wear it with tailoring, not boho — the contrast is the point.

Max Mara has added a new icon, and it did it the Max Mara way — no noise, just a perfect coat. The Ready coat joins the house's Icons collection: the classic wrap silhouette reimagined in double-faced pure camel hair with a distinctive raglan cut. No hardware, no decoration — three decisions executed flawlessly.

The Icons are having a moment on bodies, not pedestals. Adria Arjona wore the camel 101801 — the 1981 Anne-Marie Beretta original, 73 steps of felted wool-and-cashmere construction — for her WIF Max Mara Face of the Future portrait, belted tight at the waist. London's street-style interview circuit is clocking long oversized Max Mara wool coats on real outfits this week: gray wool over a denim shirt, dark trousers, loafers. The camel coat as the entire look.

In a season of fluffy maximalism — the plush faux-fur story running from Bottega Veneta to Valentino — the Icons line is the counter-argument: restraint as the flex. A camel coat is the closest thing fashion has to a retirement plan. The Ready coat just gave the canon its newest chapter.