FAO Schwarz making play for China
As it continues its revival, US retail toy giant FAO Schwarz has set its sights on China.
It plans to open stores in Beijing and Shanghai this year through a collaboration with China toy distributor Kidsland.
Kidsland will also open 30 FAO Schwarz shops in 200 department stores across China over the next five years.
“With customers looking for authentic brands and memorable encounters, we believe the brand will become a game changer in China’s toy industry,” says Kidsland International chairman/CEO Lee Ching Yiu.
Founded in 1862, FAO Schwarz was the oldest toy store in the US when its sole remaining outlet, a flagship on Manhattan’s Fifth Avenue, closed in 2015. But its branded products continued to live on at Toys R Us, which bought the brand in 2009. In October 2016, Toys R Us sold FAO Schwarz to ThreeSixty Group, which designs, makes and distributes toys and other consumer products under a portfolio of owned and licensed brands.
Meanwhile, FAO Schwarz has signed a licence agreement with Wild and Wolf, which designs and makes wooden toys, puzzles and games.