FAO Schwarz heads to Beijing
Heritage toy store brand FAO Schwarz is headed for Beijing after relaunching in New York City.
The original store, which featured in Hollywood movies such as Tom Hanks hit “Big”, closed its flagship near Central Park, unable to meet rising rental costs. Its current smaller location under new owners ThreeSixty stands to benefit from significant nostalgia for the old store amongst New Yorkers.
Beyond plans for China, ThreeSixty intends to open pop-ups in department stores both in the US and abroad.
It faces the same competition from e-commerce and discount chains like Walmart and Target that toppled toy empire Toys R Us earlier this year.
Chief merchandising officer David Niggli said the key to the new stores is experience.
Attractions include magic tricks, certificates to “adopt” a doll and a Build-a-Bear Workshop.