Why I think this watch is interesting:
I have the same watch in my private collection, it used to be my motorbike watch. Not only because of the meaning of the Italian MACCHINA SPORTIVA (sports machine) but also because the great looking light blue strap is water resistant. The movement is the Caliber 7T32.
What is so special about GIUGIARO? He is probably the most renowned contemporary Italian designer next to Pininfarina! Everybody started knowing his name after he designed the "Golf" (USA Rabbit) Volkswagen. Giugiaro designed Italian luxury cars but when he designed the Volkswagen, his names suddenly became common knowledge.

Btw. the strap is swim-safe, I have worn the watch on a very long motorbike trip in Thailand from Bangkok up North (more then 1200 km) and if you know the Thai climate, then you can imagine how much sweat ran over that watch band (not yours, I am talking about my watch from my private collection). The band is really swim safe!