Rome’s Colosseum £21.5 Million Restoration Fund by Tod’s Sparks Controversy

Italian maker of luxury shoes and leather goods, Tod's which has funded £21.5 million for the restoration of the historical Colosseum in Rome has been charged by the country's anti-trust watchdog and the consumer protection organisation with breaching all competition laws and said that its mission is not merely philanthropic.

As per a complaint lodged by the consumer group, the Italian luxury brand has not given enough time for rival bidders to place a higher offer and that its main focus should have been to organise and not fund the project.

The company, however, is not seeking any commercial return by funding the restoration and that there will be no advertising visible on the monument during work on the amphitheatre.

Last January, company President and CEO, Diego Della Valle announced that he would invest in most of the restoration works on the site. The project, which will reportedly be carried out in eight stages, would require over two years to be completed.

The iconic amphitheatre today is a major tourist attraction with thousands of tourists each year paying to view the interior arena.

Constructed during the 70-80 AD, the Colosseum is regarded as one of the greatest works of Roman architecture and Roman engineering.

However, the amphitheatre has been partially ruined by earthquakes and stone-robbers. The Colosseum has been blackened by vehicular pollution and rocked by vibrations from a nearby metro.