Luxottica sells US gift retailer Things Remembered

Luxottica Group has announced the sale of the Things Remembered subsidiary of Cole National to GB Merchant Partners and Bruckman Rosser Sherrill & Co (BRS) for approximately $200m.

This business, which had been acquired in October 2004 through the acquisition of Cole National, was non-core for Luxottica Group and, since the acquisition, the group managed it separately from its eyewear retail business through a separate corporate structure.

Things Remembered is a US-based personalised gift retail chain that serves customers through 653 outlets, catalogues and the internet.

The closing of the sale took place simultaneously with the signing of the purchase agreement with GB Merchant Partners and BRS.