I bought my Campana in Rome last year. Unfortunately, with the Euro so strong, it was more or less the same as the London pricing. If you can get the VAT, that's obviously great. The Summer before, I'd seen the Campana for the first time whilst on holiday in Capri and fallen in love with it. It was cheaper on a comparative basis back then as the Euro was so weak. I guess it all depends on the exchange rates when you travel.
The beauty of buying a BV in Italy, same as buying an Hermes scarf in Paris for example, is the atmosphere of the shop, assistance provided by SAs who truly exude the charm and appeal of the brand. Oh who am I kidding, I love shopping anywhere!