There was a time in which Victoria's Secret was known for lingerie.

Maybe that's still true. But this is not the first time we've seen Miranda Kerr topless in the Caribbean, frolicking in the warm water and posing for the brand.

Seems a little silly, doesn't it? Lingerie ads with no actual lingerie?

What are they even selling? The bottom portion of her underwear, we suppose, as well as the mere idea that a half-naked Miranda Kerr is wearing them.

Come to think of it, that's a great marketing campaign. Pure genius.

Click to enlarge the latest Miranda Kerr pictures from it below ...