Forget the Fendi Bicycle. It has been proposed that the first Italian designer bike was invented by Leonardo Da Vinci. The wooden construction above is a model "Da Vinci Bicycle", from an exhibition of the artist's inventions.
A bicycle-like sketch was discovered in 1974 during the restoration of the Codex Atlanticus and attributed to Da Vinci. Conferences were held about this discovery; academic articles written... until 1997, when the sketch was proven to be a 20th century forgery.
Okay, so Leonardo Da Vinci did not really invent the bicycle. But it's a romantic idea.