It's Official — Diego Della Valle and Tod's To Restore Roman Colosseum

>> Officials from Italy’s Ministry of Culture have approved the offer Diego Della Valle, the chairman and CEO of Tod's, made to finance the restoration of Rome’s Colosseum. Tod's Group will be responsible for a monetary commitment of 25 million euros (approx. $32.8 million) to the project, which is expected to begin at the end of the year and take up to two and a half years.

"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 said at a press conference. When recently asked what benefits to Tod's sponsoring the project would bring, Della Valle told WWD that “there is a moment to take and there is a moment to give” and that this is a cultural project, not a commercial one.