It's that time of year again when we get to see overly bronzed angels spread their wings and strut their stuff down the catwalk for the annual Victoria's Secret Fashion Show.

Typically held in New York, this year more than 40 supermodels (called Angels) will model the company's lingerie in Earl's Court Exhibition in London. And while the highly anticipated holiday fashion show will be taped Tuesday, viewers will have to wait until it airs Dec. 9. It will probably be worth the wait, but in the meantime, here is what you need to know about the 2014 Victoria's Secret Fashion Show.

1. It Used to Cost Only $12,000 to Put on the Show 

It takes an entire year to plan the annual lingerie fashion show. Designers, seamstresses, prop makers, and course, the models come together to collaborate in the big event. According to the Daily Mail, the budget for the fashion show has increased from $12,000 11 years ago to $12 million today.

Models walking this year include: Karlie Kloss, Candice Swanepoel, Lindsay Elingson, Adriana Lima, Alessandra Ambrosio, Doutzen Kroes, Behati Prinsloo and Lily Aldridge.

2. The Million Dollar Bras are Actually Worth Millions 

Victoria's Secret is known for their sexy collections of lingerie, but no bra can beat their signature million dollar line of bras. Model Claudia Schiffer started the tradition in 1996 after wearing the fashion company's first $1 million bra.

This year, two blinged out bras will be revealed. Alessandra Ambrosio and Adriana Lima will have the honors of wearing the Victoria's Secret Fantasy Bras. The bras are set in 18 karat gold and have diamonds, rubies and sapphires, 16,000 gemstones in total.

"Words can't describe how excited I was when I received a call from Victoria's Secret to let me know that I would be wearing it," Ambrosio said. "It's every model's dream to wear Victoria's Secret Fantasy Bra, so when you get chosen, it is very important to do it with elegance and enthusiasm."

The bras are created by jeweler Mouawad. The Fantasy bras cost $2 million each. Watch the models try on the Fantasy Bra below.

3. Taylor Swift is an Honorary Angel

Taylor Swift has transformed from a teen country singer to a icon, taking over the world in the past few months. The New York City ambassador is set to perform during the show for the second year in a row.

Swift took to her Instagram to tease her set list, writing lyrics like "darling I'm a nightmare dressed like a daydream," hinting that she will perform the number-one singer "Blank Space."

She also hinted at performing "Style." 

Or maybe even............ #VSfashionshow

Une photo publiée par Taylor Swift (@taylorswift) le Déc. 12, 2014 at 2:51 PST

Not only will Swift be performing, but she will be able to hang with her supermodel pals. She has reportedly hung out with models Karlie Kloss, Lily Aldridge, Candice Swanepoel and Behati Prinsloo.

4. The Company is a Leader in High-tech Sports Bras

Victoria's Secrets is not only on the forefront of fashion, but it has also entered the wearable technology market. The company's Incredible by Victoria's Secret has a detachable electrode in the front of the bra that keeps track of heart rate. Women can clip on a heart-rate monitor that is "perfect for running, boxing and high-impact workouts."

The sports bra's breathable fabric provides a cool workout and comes in two colors: Hello Lovely (Pink) and Black Marl. The sports bra costs $72.50 to $75.50 depending on size.

5. Who runs the World? Girls!

Victoria's Secret models make up over half of Forbes' list of highest earning models. Super human model and former Angel Gisele Bundchen is currently the highest paid model in the world.

And the models are not the only ones doing well. According to the company's 2014 annual report, more stores will be opening in the U.S. More stores are opening thanks to the increase of sales. In 2011, sales per average square foot was $754, compared to the $824 in 2013.

6. Who is Victoria?

Victoria's Secret is actually owned by L Brands, which also owns the retail stores Pink, Bath and Body Works, La Senza and Henri Bendel. So who is Victoria? The brand is named after Queen Victoria, England's 19th century monarch.

7. They've Been Known to Quietly Back Away from Controversy

Victoria's Secret is far from perfect. While many will tune into the fashion show to see some of the world's most beautiful models, it's important to remember that not every body looks like these women's. The company does not always provide a healthy body image to girls and women, as it recently fell under fire for a controversial ad campaign.

The "Perfect Body" campaign, which showed of its "Body" lingerie line, features text that suggested the model's bodies shown were perfect bodies. After thousands signed a petition in late October, Victoria's Secret changed the text of marketing campaign, but online only. The "Perfect Body" text still can be seen in stores and in magazines and the company did not apologize for its choice of words.

We all know that there is not such thing as a perfect body, but we still look forward to seeing the Angels grace their way down the runway on Dec. 9 at 10/9C on CBS.   

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