Things Remembered history

In 1967 Cole applied the successful formula of specialized counter operations that had worked so well with key duplication, shoe repair, and eyeglasses to engraving.

By 1975, sales at Thing's Remembered gift stores surpassed $10 million.

In 1978, Enesco began the line that would help it progress from a modestly successful giftware company to a leading manufacturer of collectibles: the Precious Moments collection.

The response from consumers when the figures were available for sale in 1979 was overwhelming.

The first was the formation of the Precious Moments Collectors' Club in 1981.

By 1983, the optical division opened its 500th location and total sales for the division exceeded $100 million.

Cole National was taken private in 1984 through a leveraged buyout backed by Kohlberg Kravis Roberts and Co., an investment firm known for its penchant for taking profits by carving up acquisitions.

The subsidiary prospered for a while, and in 1985 Cole was able to take the unit public.

In 1987, Enesco became a National Corporate Sponsor of the National Easter Seal Society.

In 1988, the company introduced a line that quickly rose into the ranks of the top ten collectibles, the Memories of Yesterday Collection.

In 1989, it bought the Tomorrow-Today Corporation of Westfield, Massachusetts, a designer and producer of decoupage gifts and decorative accessories.

However, when the group acquired Via Vermont Ltd., a designer and producer of fine art glass giftware in 1991, the Norwich, Vermont-based company continued to operate as an independent company.

In 1992, two ornaments from the Precious Moments Collection, a doll and miniature, won awards in their respective categories.

NALED's Ornament of the Year was awarded to the Precious Moments Collection in 1993.

In order to ease the company's debt load to prepare the ground for renewed expansion, especially in the optical segment, Cole was taken public once again in 1994.

In 1995, the optical division expanded into BJ's Wholesale club, opened its first location in the Target retail chain, and contributed over $300 million to Cole Natl's total sales of $500 million.

A major step taken to bolster Cole Vision came in 1996 when Pearle Inc. was acquired, making Cole the country's second largest optical retailer.

In 1997, the company purchased Flint, Michigan-based American Vision Centers, which also operated the franchises NuVision Optical and EyesFirst Vision Center.

The Gifts Center business was also enduring hard times, and in January 1998 the 430 counters within Sears stores were closed, erasing about $55 million in annual sales from Cole's balance sheet.

As a further indicator of its success, Cole Natl donated $10 million in 1999 to the to establish the Cole Eye Institute, which opened its 130,000 square foot facility at Euclid Ave and E. 105 St to offer clinical care, research, and education into the nature of eye diseases.

Recently, in the wake of the nationwide Enron accounting scandal in 2002, Cole Natl fired the Arthur Anderson accounting firm and announced that it would be restating the previous five years' earnings in order to more accurately track revenues for the sale of eyeglass warranties.

Ultimately Luxottica won the prize in October 2004 at the cost of $495 million.

Things Remembered carried on as a Luxottica subsidiary, building sales to $300 million in 2005.

In September 2006 Things Remembered was sold for approximately $200 million to GB Merchant Partners, a private equity affiliate of Boston-based Gordon Brothers Group, and New York's Bruckman, Rosser, Sherrill & Co.

Lessons learned from the ‘early days’ as well as from clients, retail legends, and change agents are chronicled in my 2015 IBPA award winning publication RETAIL SCHMETAIL, One Hundred Years, Two Immigrants, Three Generations, Four Hundred Projects.

2017 marks a proud milestone for Enesco Canada, representing our 90th year in business.