I guess we can say both. It's a Lotus bike that was designed by Cinelli. My understanding is that Lotus and Cinelli had a collaboration for several years in the second half of the 1980s. Information about these bikes seems pretty difficult to find. I know that T-Mar and Snydermann have posted about "designed by Cinelli" Lotus bikes in the past. Hopefully they can help me gain better knowledge about my new acquisition. My wish is to rebuild it as close as possible to it's original specs.