by Lisa Wang

ROME, Italy — With Italy in a state of recession that's likely to persist through the end of the year, a number of Italian luxury brands are stepping forward to restore monuments, jumpstart local economies and help furnish the country's public spaces with contemporary art.

Diego della Valle, founder and chief executive of Tod's, has often said that it's the duty of Italy's business leaders to do their part to preserve the country's national treasures, many of which have suffered disrepair and dilapidation due to tight budgets. Making good on his call to action, Mr della Valle is footing the €25 million (about $33 million at current exchange rates) bill for the much-needed restoration of Rome's iconic Coliseum, expected to take two and a half years to complete.

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Source: http://www.businessoffashion.com/