 Giovannetti was born in Milan, Italy to a Tuscan family.Early in his career as an amateur, Giovannetti won the gold medal in the Team Road Race at the 1984 Summer Olympics in Los Angeles, California, together with Claudio Vandelli, Marcello Bartalini and Eros Poli.Giovannetti's overall win in the 1990 Vuelta a España was due to a decisive attack on stage 6 over the Las Palomas mountain range.