The Benelli breast lift, also know as a donut, periareolar or concentric is performed by removing the breast skin around the areola. Then using a permanent stitch this outer longer diameter is sutured to the areolar, shorter diameter. It's a great lift when skin volume needs to be removed with or without elevation of the nipple.
The down sides to this surgery are first it will takes months to "settle." Because there is such a difference in the two diameters there tends to be a lot of skin bunching around the areolar closure. This will eventually smooth out. Second, it tends to flatten the breast shape instead of creating a conical look. And finally, if a permanent stitch isn't used the areola will widen over time.
This surgery can be done repeatedly as long as there isn't significant tension on the closure and the previous permanent stitch must be removed.
Web reference: http://www.yestheyrefake.net/benelli_mastopexy.htm