First Lady Michelle Obama was present at the ribbon cutting for the new Costume Institute this morning at the Metropolitan Museum of Art in New York, along with Sarah Jessica Parker, Diane Von Furstenberg, Donatella Versace, Alexander Wang, and Mary-Kate and Ashley Olsen, among others. The Costume Institute is being dedicated to Wintour, who has raised millions for the cause thanks largely to the annual Met Gala, which takes place tonight. According to the Met, the Anna Wintour Costume Center will house exhibition galleries, a library, conservation laboratory, research areas, and offices, while the curatorial department itself will continue to be called The Costume Institute. Of Wintour, Daniel Brodsky, the Met's Chairman said: “Her extraordinary advocacy and fundraising have made this state-of-the-art space a reality. She has the rare ability to rally diverse groups across a wide range of industries to support The Costume Institute."