The campaign was photographed in Malibu by Mikael Jansson and will break in March.
The unveiling of the plant, which will employ 50 people and produce shoes, was attended by Prime Minister Paolo Gentiloni.
The limited-edition line is inspired by the circus world.
Retail, luxury stocks were uneven.
Kendall Jenner opened and closed the Tod’s show on Friday.
Retail and luxury stocks were uneven in mid-morning trading.
European stock markets were down in late morning trading on Thursday, with the FTSE 100 in London leading the way.