The Compasso d'Oro (Italian pronunciation: [komˈpasso ˈdɔːro]; 'Golden Compass') is an industrial design award which originated in Italy in 1954. Initially sponsored by Milanese department store La Rinascente, the award has been organised and managed by the Associazione per il Disegno Industriale (ADI) since 1964. The Compasso d'Oro is the first and among the most recognized and respected design awards. It aims to acknowledge and promote quality in industrial design in Italy and internationally, and has been called both the "Nobel" and the "Oscar" of design.