The luxury Tod's makeover to restore the Colosseum has finally been schedule to begin. A complete revamp of the monument funded by Tod's founder Diego Della Valle will take place starting in March 2012.
Della Valle pledged €25 million ($33 million) to clean and stabilize the structure in January 2011. Concerns were immediately raised that the private company would gain something in return for fronting the cost of preserving the cultural landmark.
After a year of navigating a balance between public and private interests, Tod's agreed not to use any kind of branding on scaffolding. The company was, however, granted permission to use the Colosseum's image on logos for the next 15 years.
The restoration efforts will take 24-36 months in total, and scheduling much needed repairs could not come at a better time. Italy's culture ministry is investigating reports that bits of plaster had fallen from the 2,000 year-old-stadium several times in the past few days.
News of the Colosseum crumbling first broke on Sunday, with eye witnesses reporting more falling debris on Tuesday.
The Roman landmark attracts over 6 million visitors a year, making it the third most visited cultural site in Europe. Restoration efforts will allow 25% more of the site to be opened to the public.