The supermodel’s contract with the lingerie brand was NOT renewed and we can exclusively tell you why! Read on to find out why Miranda’s hanging up her wings.

Miranda Kerr will no longer be a Victoria’s Secret Angel. We can report that the 29-year-old model is losing her wings after nearly six years — so why is the Australian model parting ways with the brand?

Miranda Kerr’s Victoria’s Secret Contract:

Miranda’s $1 million, three-year contact wasn’t renewed and a source tells us it all came down to the terms of the agreement. “It all came down to contractual issues. Miranda is busy doing her own thing and working on her own projects and they couldn’t see eye-to-eye on the terms of the new contract.” While Miranda may be officially hanging up her wings she still plans on working with the brand — in fact, she’s already slated to strut her stuff on the runway for the 2013 Victoria’s Secret Fashion Show!

Miranda Kerr Fired From Victoria’s Secret? No! Still On Great Terms:

“Miranda Kerr is one of the best models in the history of the business – and easily one of the most popular. She is also a consummate professional. While her international commitments have kept her away from us more than we’d like over the past few years, she will always be an Angel to me. We have no plans to stop working with her. In fact, I’ve already invited her to walk the runway in this year’s fashion show and, happily, she’s agreed,” Victoria’s Secret chief marketing officer Ed Razek said.

While we’re sad to hear that Miranda is hanging up her wings we’re happy that she will still be working with the retailer — and we can’t wait to see her storm the runway during the annual show!

What do you think? Are you surprised by the news? Are you sad to hear that Miranda is surrendering her role as an Angel or do you think it’s about time the multi-tasking mom branched out?

Katrina Mitzeliotis

http://www.youtube.com/watch?v=KreJ4LjslgM

