Maureen Chiquet and Stefano Tonchi

The event co-chair Maureen Chiquet, Chanel global chief executive officer, and Stefano Tonchi, editor of W magazine, pose for a portrait at Sotheby's in New York, on Thursday, Oct. 18, 2012. "Coco Chanel was a big supporter of the arts and it is a natural thing for us to do," Chiquet said about the company's support of the New York Academy of Art. "It teaches fundamental art skills in a very contemporary way," she said.