With the opening of the first Louis Vuitton Maison in Italy on 29th January 2012, the world renowned trunk and luggage-maker marks a major achievement in its history.

Louis Vuitton’s 14th Maison is called Roma Etoile. It was designed by the architect Peter Marino who renovated this former Cinema Corso in a modern artistic way.

The heart of the shop is structured around a monumental staircase, a tribute to Rome’s Baroque architecture.

A Renaissance palace grafted onto the top of an ancient Roman theatre is up for sale in Rome for €32 million ($42 million).

Its asking price is thought to make it the most expensive property currently on sale in the Italian capital, and one of the most expensive in Europe.

The 11,000 sq ft property has frescoed staterooms, a ballroom, three bedrooms, two bathrooms, a library, a dining room, a terrace, a separate penthouse and cellars.

The fashion house of Valentino launches its new fragrance in September 2011. Destined to younger women, it is named Valentina.

The fragrance, inspired by Rome and Italian flavors, is developed in collaboration with Puig and perfumers Alberto Morillas and Olivier Cresp.

Freja Beha Erichsen stars in the fragrance’s ad, shot by David Sims, and accompanying video (below), shot by Johan Renck.

Tod’s, the Italian luxury shoe group has announced a new project to fund the cost of the restoration of Rome’s historic Colosseum, at a cost of €25 million.

According to the Telegraph, The ancient Roman arena is blackened by pollution and rocked by vibrations from a nearby subway line.

The project will happen in eight stages and has been finalized by the Italian Ministry of Culture and Tod’s Group President Diego Della Valle.

A view over Rome painted by artist JMW Turner was sold for 29.7 million pounds in London, setting a new record at auction for the British master.

“Modern Rome — Campo Vaccino” was bought Wednesday for the equivalent of 44.9 million dollars at Sotheby’s by the J. Paul Getty Museum in Los Angeles.

The previous auction record for a Turner work was 20.5 million pounds, which was set by “Giudecca, La Donne della Salute and San Giorgio” in April 2006.

The Rome Cavalieri Hotel, set on a 15 acre private Mediterranean parkland and known as one of the city’s most prestigious address, has created the ultimate wedding package with a price tag of a million dollars.