ALL ABOUT YU, YU, YU: Chinese investor and philanthropist Wendy Yu, on behalf of her Hong Kong-based company Yu Holdings, has set up an endowment of the Curator in Charge of The Costume Institute at the Metropolitan Museum of Art. Effective immediately, Andrew Bolton assumes the title of Wendy Yu curator in charge of The Costume Institute. The museum now has 50 endowed positions in its curatorial, conservation and other departments.
The endowment, which will exist in perpetuity, opens the door for a greater presence in Asia. Yu Fashion will roll out a program of initiatives with The Costume Institute in China, including a series of Bolton-led educational talks in partnership with a local institution. He will draw back the curtain on The Costume Institute’s curatorial process. Yu Fashion will also align The Met with Chinese art and fashion communities. An alliance of Chinese individuals and institutions will be created with the end game of funding acquisitions by The Costume Institute.
The fashion-focused Millennial is founder and chief executive officer of Yu Holdings. She describes herself as “investor, patron and friend of tech, cultural and creative exchange.” She has been making the rounds at the Paris shows including Chanel, Valentino and Givenchy. About a month ago Yu hosted a Chinese New Year dinner at Kensington Palace which also marked the launch of Yu Holdings, which will invest in companies, technology, philanthropy, fashion, and arts and culture, with the aim of strengthening ties between China and the rest of the world. Yu has steered such recent investments towards fashion designer Mary Katrantzou, China’s largest short-term property rental firm Tujia and the biggest taxi-hailing firm in China Didi Kuaidi.
The Met’s president and chief executive officer Daniel H. Weiss You said Yu’s support will make it possible for the museum “to broaden our expertise in the field, advancing our scholarship and conservation and increasing the scope of The Costume Institute’s groundbreaking work to enhance global knowledge of fashion as an art form.”
Yu said her mission through Yu Fashion is “to support the fashion industry and one-of-a-kind talents such as Mr. Bolton. We will be providing a cross-continent opportunity for cultural exchange as well as increasing awareness of The Costume Institute in China.”