11/02/2017 11:56 EDT | Updated 11/02/2017 11:56 EDT

The 2017 Victoria's Secret Fantasy Bra Is Here, And It's Fantastic

The bra is valued at US$2 million.

Victoria's Secret

It's that time of year again.

Halloween is over, there's a hint of festivity in the air, snow dare we say is on the way, and it's all leading up to the one magical moment merrymakers young and old look forward to all year: The Victoria's Secret Fashion show.

The highlight of the show, the Fantasy Bra, was revealed Wednesday, and, as expected, it's fantastic.

The bra, designed by world-renowned jeweler Mouawad, is valued at US$2 million and is set by hand with nearly 6,000 gemstones: diamonds, yellow sapphires, and blue topaz in 18 karat gold, Victoria's Secret revealed. It took 350 hours to create.

Model Lais Ribeiro will wear the 2017 Champagne Nights Fantasy bra for the first time on the runway, Victoria's Secret announced Wednesday.

Ribeiro, 27, is the fourth black model to don the bra, Teen Vogue reports. Tyra Banks wore the bra in 1997 and 2004, Selita Ebanks had the honour in 2007, and Jasmine Tookes rocked the runway in last year's version.

Being chosen to wear the Fantasy Bra is a career-making moment for a Victoria's Secret runway model, also known as an "Angel," according to Refinery29.

Ribeiro is "beyond honoured," she wrote on Instagram.

"I am very happy and thankful for my Victoria's Secret family for trusting me and all the support from my on family, friends and fans," Ribeiro said.

I'm sorry but the pictures will just keep coming! 😜

A post shared by Lais Ribeiro (@laisribeiro) on

The Victoria's Secret Fashion Show airs Nov. 28.

The new collection will feature bras, underwear and lingerie in shimmering champagne shades.

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