Outside the National Guard's 69th Infantry Regiment headquarters, it was a chilly night in New York. Inside, where the Victoria's Secret Fashion Show was underway, the atmosphere was hot as models took to a stage adorned at various times with shipwreck props, British flags and street lamps.

Wearing millions of dollars of diamonds, Swarovski crystals and lingerie, Victoria's Secret Angels hit the catwalk during the brand's annual runway event. The L Brands-owned chain kicks off each holiday-selling season with a star-studded show to generate excitement about the upcoming collection.

This year's show started with a performance by the Rutgers University marching-drum line, followed by the extravaganza's first theme, "British Invasion."

Taylor Swift, Fall Out Boy and Neon Jungle performed during two identical runs of the show, each lasting about 30 minutes.

It will air on CBS on Dec. 10 at 10 p.m. EST. Click ahead to see scenes from this year's event.

—By CNBC's Katie Little. Photos by CNBC's Adam Jeffrey
Updated 15 Nov. 2013

Backstage, model Doutzen Kroes gets ready.

Toni Garrn waits backstage for the show to begin.

Models pose with Pascal Mouawad, who designed this year's Royal Fantasy Bra and Belt.

Model Barbara Fialho in hair and makeup backstage.

The "British Invasion" segment of the show began with music from Fall Out Boy and Taylor Swift, who performed on a stage decorated with big Union Jacks.

In "British Invasion," Adriana Lima is decked out in pearls, Swarovski crystals and, of course, white Angel wings.

Victoria's Secret Angel Candice Swanepoel kicked off this year's show in this year's Fantasy Bra, a $10 million undergarment crafted by hand in 18-karat gold.

Its eye-popping price tag is the highest since 2005. Fantasy Bra prices plunged during the recession to a mere fraction of those during the early 2000s.

Since the first Fantasy Bra in 1996, only last year's $2.5 million bra has found a buyer. Victoria's Secret declined to disclose the name of its owner.

Lily Aldridge walks the runway as a Punk Angel.

Singer Taylor Swift performs during the British Invasion segment.

Izabel Goulart walks the runway wearing feathered wings during the Birds of Paradise segment.

As part of her psychedelic Angel costume, Karlie Kloss modeled brightly colored, custom-painted wings and a fetching cheekini.

She cut her hair before appearing in last year's Victoria's Secret Fashion Show and wore extensions during the event, but this year Kloss sported her shorter 'do sans extensions.

The Fall Out Boys crank up the energy.

A "Birds of Paradise" theme marked the next segment of the show. Digital images of birds appeared at the back of the stage as models stalked the glitter-strewn runway.

In this shot, Alessandra Ambrosio wears a feather corset and bustle, while blowing a playful kiss to the cameras.

Joan Smalls wears peacock-feather wings during a later look from the "Birds of Paradise" segment.

Lindsay Ellingson and Lais Ribeiro walk the runway as exotic birds of paradise.

Hilary Rhoda, in feather bolero and wings, walks the runway during Birds of Paradise segment.

After a brief intermission between segments, during which a freestyle dancer entertained the audience, the show's "Shipwrecked" came ashore, complete with appropriate props.

During the first look, Doutzen Kroes wears driftwood wings covered in gauzy fabric.

One of the members of A Great Big World played piano during the "Shipwrecked" segment. Shown here, from left, are Toni Garrn, Martha Hunt and Karlie Kloss.

Shown here is Ieva Laguna modeling an outfit from PINK, a sub-brand aimed at college-age consumers. Several of the looks featured large balloons.

During L Brands' last earnings call, executives attributed an increase in capital expenditures to real estate investment at Victoria's Secret, primarily to accommodate more square footage for PINK. Only about 20 percent of stores currently carry the full line of that merchandise.

Adriana Lima wore red feather wings along with a garter belt and panty ensemble during the dramatic opening of the "Parisian Nights" segment.

Izabel Goulart (L), Joan Smalls (C) and Kelly Gale (R) walk the runway during the Parisian Nights segment.

Several of the "Parisian Nights" outfits featured harnesses, including this one shown on Doutzen Kroes.

An oversized blue-and-black feather boa completes the crystal-fringed look.

Adriana Lima wearing vibrant red wings walks the runway during Parisian Nights.

Alessandra Ambrosio in black feathered wings during Parisian Nights.

Lily Aldridge as a snowflake during the Snow Angels segment.

Taylor Swift performs again during Snow Angels.

Snow Angel Maryna Linchuk is wrapped in a feather shrug and train.

The Angels take to the stage during the finale.

Lily Aldridge, Karlie Kloss and Adriana Lima blow kisses at the end of this year's show.