Miranda Kerr has been chosen to wear the Victoria’s Secret‘s 2011 Fantasy Treasure at next month’s presentation.

Valued at $2.5 million, the bra is inspired by an underwater dreamland of luxury, exotic glamour and sexy aquatic Angels.

The Fantasy Treasure Bra was created by London Jewellers in Long Island. It boasts almost 3,400 stones, of which there are 142 carats of yellow and white diamonds.

Upscale retailer Neiman Marcus unveiled the 85th edition of its Christmas Book Tuesday, with nine “fantasy gifts” ranging in price from $5,000 to $1 million.

The 2011 Christmas Book features an Assouline custom-built library, a “Dream Folly” opulent customized yurt, a Neiman Marcus-edition Hacker-Craft speedboat and a table-tennis table that doubles as a contemporary work of art.

This year’s featured car is the Ferrari FF, bespoke for Neiman Marcus. The catalog offers 10 of the Ferraris with four-wheel drive in the silver-gray color “grigio caldo”.

Chef Marc Guibert at Lindeth Howe Country House Hotel in Windermere, Cumbria has created the world’s most expensive dessert.

It is made of exclusive ingredients like caviar and four different types of the finest Belgian chocolate flavoured with a combination of peach, orange and whiskey.

Styled like a Faberge Easter egg, it is layered with champagne jelly, a light biscuit joconde and glazed with edible gold leaf.

Gwyneth Paltrow, an award-winning actress, singer, author and style icon, will be the star of the Fall 2011 and Spring 2012 fashion advertising campaign.

The campaign, which was shot by Peter Lindbergh on a Manhattahn rooftop, will be featured in Asia and Europe, including France, Spain, the U.K., Portugal, and China.

“I grew up in New York City and I’ve always thought of Coach as the quintessential New York brand,” the star said in a statement.

French luxury goods maker Hermes has launched a limited edition Indian sari range to “connect” with Indian culture as it target buyers in new markets.

Indian women may wear Western dress to the office during the day but for weddings and other formal occasions they often prefer to wear six-yard (five and a half metre) elegantly draped saris, reflecting the strong pull of tradition.

“This is part of our effort to connect to India’s culture and to the tradition of elegance of Indian women,” Bertrand Michaud, president of Hermes India, told AFP.

Japanese Department store Takashimaya is selling three commemorative gold boxes for New Year “Osechiryori” food delicacies to mark its 180th anniversary.

The luxury lunch boxes, with three layers, are made from 18-karat gold and weigh 3.35 kilograms.

Takashimaya said it is selling only three of them for 18.9 million yen ($229,000) each for New Year and is accepting orders until Oct 11.