Many were skeptical that Italian luxury brand Tod’s would donate funds for the restoration of the Colosseum with no strings attached. The cynics were proven correct when it was recently revealed that Tod’s has acquired the rights to the Colosseum’s image.
The 25 million Euros offered by Tod’s to revamp the famous monument came with an agreement that the company would be allowed to post logos on construction sites and entrance tickets. More importantly, Italy’s Ministry of Culture signed over use of the landmark and its image to Tod’s.
If organizations or private companies wish to use the Colosseum as a backdrop for a commercial or advertisement, they must rent the right from Tod’s. Insiders suggest that the 15-year deal could be worth as much as 200 million Euro for the private brand.
Tod’s owner Diego Della Valle was heralded as a patron of Italian art when he first fronted the funds for the project. Now, Prada is readying itself to follow in his footsteps by sponsoring the restoration of a baroque palace overlooking the Grand Canal in Venice.
Ca' Corner della Regina, built in 1724, will be restored according to the strict constraints set by the city of Venice when dealing with building of historical and artistic value.
The project is expected to take six years to complete, but the first phase will allow the partial opening of the building by the end of May. Once fully restored, the palace will be a venue for contemporary art exhibitions.
