April 25, Liberation Day, is a national holiday in Italy celebrating the anniversary of Italy's liberation in WW II. In Venice it's also the day of another important festival - the feast day of Venice's patron saint, San Marco or Saint Mark.
Festa di San Marco is celebrated with a procession in Piazza San Marco or St. Mark's Square. In Venice it's also the festa del Bocolo, blooming rose, a day when men present the women in their lives with a red rosebud. The origins may be from either of these two legends.
Venice Travel: Venice Visitors Guide
Where to Stay: Top Rated San Marco Hotels
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Picture of Basilica San Marco © 2006 by Martha Bakerjian, licensed to about.com

Ciao Martha, so nice to read about the (2!) legends of the red rose. Thank you so much for posting!