Article

Luxottica moves 900 jobs in Cole National merger

Twinsburg, OH-Italian eyewear manufacturing giant Luxottica Group has completed its $495 million acquisition of Cole National Corp. and will close its operation here, moving some of its 900 jobs south to its North American retail headquarters in Cincinnati.

Twinsburg, OH-Italian eyewear manufacturing giant Luxottica Group has completed its $495 million acquisition of Cole National Corp. and will close its operation here, moving some of its 900 jobs south to its North American retail headquarters in Cincinnati.

The company has not said how many of the Cole jobs would be transferred.

"We're looking to move as many as possible," Luxottica spokesman Luca Biondolillo reportedly told the Associated Press.

Cole National also owned personalized gift retailer Things Remembered, with 722 locations throughout the country. Luxottica said that division would be managed separately from the optical business, although observers have speculated that it would be sold.

Luxottica said it intends to combine Cole National's managed vision care business, Cole Managed Vision, with its own EyeMed to make both more competitive in their insurance products.

The Italian manufacturer said it would study other non-store operations, distribution systems, product mix, manufacturing labs, and technology over the next few months before deciding its strategy. The Federal Trade Commission approved the merger in late September. The deal closed Oct. 4, and Cole National shut down the investor relations portion of its Web site. Cole National stockholders will receive $27.72 per share in the transaction.

"The integration of Cole National represents a key step in the strategy for future growth of our group," Leonardo Del Vecchio, Luxottica's chairman, said in a statement. He added that the deal boosts the company's presence in North America. "This is something that has been at the core of our strategy since the acquisition of LensCrafters in 1995."

Newsletter

Don’t miss out—get Ophthalmology Times updates on the latest clinical advancements and expert interviews, straight to your inbox.

Related Videos
(Image credit: Ophthalmology Times) ASCRS 2025: Parag Majmudar, MD, on bridging the gap between residency and real-world practice
Brett Bielory, MD, discusses his poster at the ASCRS annual meeting, which focuses on an under-diagnosed corneal pathology: neurotrophic keratitis.
(Image credit: Ophthalmology Times) Oluwatosin U. Smith talks Glaukomtecken
ASCRS 2025: Eva Kim, MD, discusses implantable collamer lenses and high myopia.
Abby Markward, MBA, and Hattie Hayes, editor of Ophthalmology Times Europe, discuss the ASCRS and ASOA meetings
Abby Markward discusses the ASCRS Foundation and the ASCRS Annual Meeting
(Image credit: Ophthalmology Times) Inside ASCRS 2025: Francis S. Mah, MD, takes the helm with a vision for research, education, and advocacy
© 2025 MJH Life Sciences

All rights reserved.