Tod’s Colosseum

January 12th, 2012

Italian brand Tod’s - which has invested €25 million to restore one of the country’s most important historic landmarks, the Colosseum – has responded to accusations from Italy’s antitrust authority and the country’s consumer protection organisation that the venture is less than philanthropic.

The company stated that it is not seeking a commercial return through the sponsorship of the restoration, and that no company advertising will be visible on the monument during the works on the amphitheatre, WWD reports. The brand says it has already deposited a guarantee fund of more than €10 million to be used to finance the first set of works.

“We hope this money will be used as soon as possible for the restoration of a monument which represents Italy around the world, and which really needs it,” a spokesperson for Tod’s said.

Updated Wednesday January 26, 2011, 8.48am: Tod’s will fund a €25 million (£21.5 million), restoration of Rome’s famous Colosseum.

According to the Telegraph, the president of the luxury footwear group Diego Della Valle is working with the Italian ministry of culture on the project – which will be carried out in eight stages. Renovation is set to start at the end of this year and will take over two years to complete.

“A monument that represents Italy in the world must be restored, and a company that represents Made in Italy stepped forward to say, `If you need us, we are here,’” Della Valle told a press conference.

Although still one of Italy’s most popular tourist attractions, the Colosseum has become blackened by pollution and has been rocked by vibrations from nearby underground lines. It will remain open to tourists throughout the restoration.

source form: vogue