CUCINELLI’S CHARITY: Brunello Cucinelli plans to donate 1 million euros, or $1.43 million at current exchange, to help restore the Etruscan Arch in Perugia, Italy. Also known as the Arch of Augustus, it dates back to the third century B.C. and is one of the symbols of the city, as the main gate into the north side of the historic center. Perugia is located about 10 miles from Solomeo, a medieval hilltop village in the central Italian region of Umbria, where Cucinelli’s company is based. The entrepreneur bought Solomeo’s 14th-century castle and surroundings in 1985, and has since then restored the entire village, adding a new theater complex in 2008.

This step follows Tod’s chairman and chief executive officer Diego Della Valle’s decision to sponsor the three-year restoration works on the Colosseum in Rome with a donation of $36.5 million. The executive has been urging Italian entrepreneurs to take action and support works on crumbling sites throughout the country, a venture he has dubbed “Project Italia.” Diesel chief Renzo Rosso is rumored to be planning to finance works on the Ponte di Rialto in Venice.

This story first appeared in the August 24, 2011 issue of WWD. Subscribe Today.

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