ICON PROMOTION: Joseph Morabia has been named vice president of sales and marketing for Icon Eyewear. Morabia had been national sales manager for the U.S. and Canada. In addition, he is in charge of the company’s new Rampage Eyewear Division for the international market. Icon Eyewear has showrooms in New York and Amsterdam.
CATCHING COLE: Cole National Corp. shareholders approved a merger agreement with Italy’s Luxottica Group at $27.50 a share plus interest through the closing of the merger, dashing the hopes of rival Cole bidder Moulin International Holdings. Votes cast in favor of the transaction were approximately 99.5 percent of Cole National’s shares voting on the proposal, representing approximately 78 percent of the company’s outstanding shares, Luxottica said in a release. Based on the $27.50-a-share price, Luxottica will pay approximately $495 million plus interest for all Cole shares. The deal is subject to U.S. antitrust approval. Luxottica has been seeking acquisitions and new licensing deals to compensate for losing the lucrative Giorgio Armani eyewear license to Safilo in late 2002. Luxottica has since inked licenses with Versace and Prada.