THE WHAT? Chanel has signed a strategic partnership with Shanghai’s Power Station of Art which is designed to help restore the museum, as well as boost research capacity and build up the collection.

THE DETAILS According to a report published by WWD, the French luxury brand will fund a ‘comprehensive upgrade’ to the museum’s third floor, which will be named Espace Gabrielle Chanel and house an archive of Chinese contemporary art, exhibition space, arts theater and riverside terrace.

THE WHY? Renaud Bailly, President of North Asia, Chanel, told WWD, “This long-term partnership marks a new chapter in the house’s commitment in China.”