Cool-Ray was originally a division of American Optical and was introduced following an agreement with the Polaroid Corporation (estd. 1937) to use their lens technology under license, producing the world's first polarized sunglasses—designed to screen out glare rather than simply darken the landscape.

The Cool-Ray 'N135' by Cari Michelle was famously worn by Sean Connery in the 1965 Bond movie, Thunderball. The brand has been reborn, and the timeless frame has been recreated in collaboration with Connery's tailor, Anthony Sinclair.