Cole National Corporation

Once an optical retailer with nearly 3,000 outlets in the United States, Canada, and the Caribbean, Cole National Corporation was acquired by Italy's Luxottica S.p.A. in 2004. Luxottica proceeded to fold Cole's operations into its North American Retail Group, and while Cole's holdings (such as Pearle Vision) continued to thrive, the Cole structure was dissolved. Over the course of its history, Cole National had dabbled in specialty retail ventures ranging from key cutting services to children's toys to cookie-baking to shoe repair and watchbands. Optical retail, however, began to play a large role in the company's strategy in 1996 when it acquired Pearle Inc. in a deal that made it the second-largest optical retailer in the United States. In 2004, at the time of the Luxottica acquisition, the company operated as a leading provider of vision care products and services—including managed vision care programs—and personalized gifts through its Things Remembered stores.