This year's event had a particular sparkle to it (and we're not just talking about the diamond-encrusted bras) as model of the moment Kendall Jenner made her debut, as well as Gigi Hadid - who broke down into tears when she didn't make the cut last year.
It took place at the Lexington Avenue Armory in New York and VS stalwarts Candice Swanepoel, Behati Prinsloo, Alessandra Ambrosio and Adriana Lima took part, as well as Lily Aldridge who had the privilege of wearing the new Fantasy Bra, worth £1.3 million.
Jenner also had her parents Caitlyn and Kris in the front row cheering on their daughter.
The show is as silly as hell - it's basically Eurovision but with bras - but my, the models are something to look at.
Take a look at the best pictures of the evening: