FAO Schwarz
 | |
 FAO Schwarz was formerly located at Grand Army Plaza (Manhattan) | |
| Industry | Toy |
|---|---|
| Founded | 1862 (1862) (as Toy Bazaar) Baltimore, Maryland, U.S. |
| Founder | Frederick August Otto Schwarz |
| Headquarters | Rockefeller Center New York City, New York, U.S. |
Number of locations | 1 |
| Products | Toys, Clothing, Baby Products |
| Parent | W. R. Grace and Company (1970–1974) Christiana Companies (1985–1986) Morse Partners (1986–1990) Vendex KBB (1990–2001) Right Start (2001–2004) Toys "R" Us (2009–2016) ThreeSixty Group (2016–present) |
| Website | faoschwarz.com |
FAO Schwarz is an American toy brand and store.[1] The company is known for its high-end toys, life-sized stuffed animals, interactive experiences, brand integrations, and games.[2]
FAO Schwarz is the oldest toy store in the United States, first opening its doors in 1862 in Baltimore before moving to Fifth Avenue in New York City. The dance-on piano, made famous by the 1988 Tom Hanks’ film Big, brought national attention to the brand. FAO inc. filed for bankruptcy twice in 2003 before shuttering the Fifth Avenue store in January 2004. In May 2009, Toys "R" Us Inc. acquired FAO Schwarz, but in 2015, it closed the doors on the Fifth Avenue store.
The brand was acquired by ThreeSixty Group, who opened their new flagship store at 30 Rockefeller Plaza in November 2018. FAO Schwarz now remains a popular attraction for locals and tourists alike.
Contents
1 History
1.1 Early history
1.2 Right Start, FAO Inc. and bankruptcy
1.3 D. E. Shaw & Co.
1.4 Toys "R" Us, Inc.
1.5 ThreeSixty Group
2 Brand
2.1 Logo
2.2 New York City flagship store
2.3 Feature shops & store experiences
2.4 FAO Schweetz and FAO Café
3 In popular culture
4 References
5 External links
History
Early history
FAO Schwarz was founded in 1862 in Baltimore under the name "Toy Bazaar" by German immigrant Frederick August Otto Schwarz.
In 1870, Schwarz opened a New York City location known as the "Schwarz Toy Bazaar" at 765 Broadway, which moved to 42 E. 14th Street in Union Square in 1880 and operated at that location until April 28, 1897, when it took over two vacant store locations at 39 and 41 W. 23rd Street. By then, The New York Times described Schwarz as "the largest dealer in toys in this city."[3]
Beginning in November 1869, the Schwarz Toy Bazaar held an exhibition of toys that would be available for the Christmas season, which in 1883 was described as the "14th Annual Exhibition."[4] In 1896, Schwarz proclaimed the store as the "Original Santa Claus Headquarters" in New York.[5] The FAO Schwarz holiday catalog has been published annually since 1876.[6][7]
In 1931, the New York City location moved to 745 Fifth Avenue where it operated for 55 years.
In 1963 FAO Schwarz was purchased by the Parents Magazine. The terms of the deal read that it would license the name FAO Schwarz for a maximum of five years before dropping the legacy name while still paying the Schwarz family a royalty on sales. However, the lease was renewed as the new owners felt the name was too significant to lose. Part of the price of keeping the name was to keep the royalty agreement and the Schwarz family set up a foundation to fund opportunities for young people to work in nonprofit with the income the royalties were making. Nine percent of the company remained in the hands of the Schwarz family. The company subsequently sold to W.R. Grace in 1970, and then to toy retailer Franz Carl Weber of Zurich, Switzerland, in 1974.
In 1985, Christiana Companies, a San Diego, California based company, owned FAO Schwarz for just one year. In 1986, Peter Harris, with the help of Philadelphian investment banker, Peter Morse, bought the company under Morse Partners Ltd. and moved the toy store across 58th Street to the General Motors Building at 767 Fifth Avenue at 58th Street. FAO Schwarz was sold to Netherlands-based NV Koninklijke Bijenkorf Beheer (later renamed Royal Vendex/KBB NV) in 1990.
Throughout the 1990s, new FAO Schwarz stores opened throughout the United States and by 2000 the company had 40 locations.[9]
In 2001, the Calabasas-based toy retailer Right Start, Inc. purchased 23 of the 41 stores including the famed FAO Schwarz Fifth Avenue flagship store from parent company, Royal Vendex for somewhere between $50 to $60 million.
In 2002, Right Start Inc. changed its corporate name to FAO Inc. operating stores under The Right Start, Zany Brainy and FAO Schwarz names.[11] In On December 17, the company projected they would file bankruptcy if its bank did not relax borrowing restrictions, CBSNews reported. On Monday January 13 2003, FAO Inc., which owned FAO Schwarz, Zany Brainy, and Right Start toy chains filed for bankruptcy,[12] listing assets of $257.4 million and liabilities of $238.4 million in a U.S. Bankruptcy Court in Delaware. yet emerged from bankruptcy three months later in April 2003. The company filed for bankruptcy a second time in December 2003.[13] The Fifth Avenue store closed in January 2004.[14]
In May 2009, Toys "R" Us Inc. acquired FAO Schwarz.[18]
On July 15, 2015 FAO Schwarz closed its doors on Fifth Avenue leaving shoppers with only FAO boutiques located inside Toys “R” Us stores.
In 2016, Threesixty Group, a product developer and distributor, acquired the FAO Schwarz brand from Toys R Us. On Friday November 16, 2018 FAO Schwarz opened its new flagship store at 30 Rockefeller Plaza after having closed their doors three years prior with the theme: #ReturnToWonder. The experimental three-floor store brought back the piano made famous from the Tom Hanks film, “Big,” as well as setting up interactive shops including a baby doll adoption center, magic shows, a remote-control car building area, amongst other entertainment centers scattered throughout the store. Retail partners offering one-of-a-kind experiences include Alex Spa, Bunnies By The Bay, Build-A-Bear Workshop, Discovery, Hape Music, Hasbro, Marvin’s Magic, Barbie/Mattel, Melissa & Doug, Ravensburger/BRIO, Spin Master, Steiff, and Swarovski. The store features a Mercedes Benz car sponsored by Swarovski valued $25,000, available to view in store and for purchase through specialty order.
Right Start, FAO Inc. and bankruptcy
In 2001, the Calabases-based toy retailer Right Start, Inc. purchased 23 of the 41 stores including the famed FAO Schwarz Fifth Avenue flagship store from parent company, Royal Vendex, for somewhere between $50 to $60 million.
In 2002, Right Start Inc. changed its corporate name to FAO Inc. operating stores under The Right Start, Zany Brainy and FAO Schwarz names.[8]
On December 17th, the company projected they would find bankruptcy if its bank did not relax borrowing restrictions. On Monday January 13 2003, FAO inc., which owned FAO Schwarz, Zany Brainy, and Right Start toy chains filed for bankruptcy,[9] yet emerged from bankruptcy three months later in April 2003. The company filed for bankruptcy a second time in December 2003.[10] The Fifth Avenue store closed in January 2004.[11]
D. E. Shaw & Co.
In February 2004, investment firm D. E. Shaw & Co., L.P., acquired the FAO Schwarz stores in New York and Las Vegas, as well as FAO Schwarz's catalog and internet business.[12] The New York and Las Vegas stores were reopened on Thanksgiving Day 2004.[13] In November 2007, FAO Schwarz acquired premium children's clothing company Best & Co., which had plans to expand,[14] but the company ceased business in 2009.
Toys "R" Us, Inc.
In May 2009, Toys "R" Us Inc. acquired FAO Schwarz.[15] In 2009, Toys "R" Us subsequently put temporary FAO Schwarz boutiques in its U.S. Toys "R" Us stores for the holidays, and in October 2010, the concept was expanded into permanent boutiques in Toys "R" Us stores. In addition, FAO Schwarz-branded infant and toddler items are available in all of its Babies "R" Us stores nationwide.[16] The company closed the Las Vegas location in January 2010[17] followed by its previous flagship New York store. The brand's current flagship store reopened by ThreeSixty Group Inc. in 30 Rockefeller Plaza in November 2018.
ThreeSixty Group
In October 2016, ThreeSixty Group, Inc. acquired FAO Schwarz from Toys ‘R’ Us, Inc.
The FAO Schwarz brand is currently the property of the descendants of the founder through the FAO Schwarz Family Foundation[18] but is exclusively operated by ThreeSixty Group. In August 2018, ThreeSixty Group announced plans to open a new FAO Schwarz store at 30 Rockefeller Plaza in Rockefeller Center, and a second store at LaGuardia Airport by November 2018.[19][20]
In October 2018, FAO Schwarz pop-up stores opened at 90 Hudson's Bay Company stores across Canada, just ahead of the Christmas holiday season, to remain open through the holidays.[21] The new location at 30 Rockefeller Plaza opened on November 16, 2018.[22][23]
Brand
FAO Schwarz is known for its large assortment of plush animals and the Piano Dance Mat, a smaller replica of the in-store dance-on piano featured in the Tom Hanks film Big.[7] FAO Schwarz also features limited-quantity luxury items including a drivable, child size Mercedes Benz encrusted with over 40,000 Swarovski crystals and valued at $25,000.
In addition to its own line of products, FAO Schwarz carries brands including Steiff, the world's oldest and best-known German designer of stuffed animals, Melissa & Doug, a leading designer and manufacturer of educational toys, and Build-A-Bear Workshop, a Make-Your-Own experience featuring a selection of exclusive FAO Schwarz furry friends and accessories, among other in-store retail partners.
Logo
Through the years, the FAO Schwarz logo has had versions that included a teddy bear, ABC blocks, a toy soldier, rocking horse and animated clock tower.[24] In 2010, the FAO Schwarz logo was redesigned in colors of red and silver. The new logo emphasized the initials of company founder, Frederick August Otto Schwarz.[25] It also debuted a company mascot, "Wit".[24]
In 2017, FAO Schwarz hired design studio, Mattson Creative, to rebrand the iconic FAO Schwarz logo and packaging. Mattson Creative invented the tagline, Return to Wonder, with the hope of creating a deep nostalgia to those who visited the original store as a child.
At the end of 2017, following the sale to ThreeSixty Group, FAO Schwarz announced that they would open a new store at 30 Rockefeller Center in the space formerly occupied by the NBC Experience Store.[35]
New York City flagship store
FAO Schwarz opens its doors today with a new flagship location in New York City. The beloved toy store spans 2.5 levels with over 20,000 square feet of signature toys, interactive experiences and shops crafted to instill a world of wonderment and deep nostalgia for parents and children alike.
With a nod to the deep history of the brand in New York and a wink to its future, the new store designed by Chute Gerdeman capitalizes on the Art Deco architecture of its new home and amplifies memories of the best FAO experiences from years past. FAO Schwarz toy soldiers are stationed outside of the 49th street entrance, outfitted in brand new uniforms designed by International Supermodel Gigi Hadid. This new uniform, which will be worn at all FAO stores internationally, draws from Gigi’s own nostalgia of childhood visits to the toy store and incorporates whimsical elements including a special “Medal of Honor” is worn on the left pocket adorned with the meaningful words “Celebrate, Wonder, Discover, Share, Together.”
“FAO Schwarz was built on in-store experiences, which has made it a global destination over the years.” said David Conn, CEO of ThreeSixty Brands, owners of the FAO Schwarz brand. “We are bringing back the wonderment of toys and a deep nostalgia for the larger than life experience that FAO Schwarz has offered to parents and children alike for over 150 years.”
Feature shops & store experiences
More than a toy store, FAO Schwarz is a place of imagination and discovery. Guests who enter at Rockefeller Plaza are transported to another world with FAO Schwarz’s newest icon, the rocket ship. Surrounded by classic plush creations, the 27-foot tall rocket ship—sponsored by Build-A-Bear Workshop—showcases teddy-bear astronauts and is the first cue that there is more to discover upstairs. From the 49th Street entrance, guests are greeted by FAO’s iconic three-story, three-dimensional clock tower, inviting exploration up, through, around and within. Beyond the clocktower and rocket ship, a journey of discovery begins, where over 200 FAO Schwarz-branded toys as well as products from over 15 well-loved toy brands come to life with unique experiences.
FAO Schwarz’s hand-selected toy ambassadors and product demonstrators provide a world-class shopping experience through the whimsical and theatrical wonderment FAO has always been known for.
The famous FAO Schwarz dance-on piano sponsored by Hape returns and is featured on the second floor. The new and improved Piano is reflected on the ceiling above and guests can overlook the ice-skating rink below at Rockefeller Plaza. Piano dancers, performing grand shows throughout the year, are experts at teaching visitors of all ages and skill levels how to dance and play songs.
Shoppers are invited to work alongside trained mechanics at FAO Raceway, where they can build remote-control cars piece-by-piece by picking out their individualized body style, color, wheels, and designs. Also new to the store is the FAO Schwarz Baby Doll Adoption Experience where nurses and doctors walk children through the adoption process and teach them how to properly love and care for their baby dolls. Once a prospective parent adoption form is completed, children are able to select the doll of their choosing. The baby dolls are then taken for a “checkup” before they are sent home with their very own FAO “certificate of adoption.”
FAO Schweetz and FAO Café
FAO Schweetz, operated by specialty candy retailer IT’SUGAR, also returns encompassing over 2,150 square feet in candy installations and innovative merchandising, honoring FAO Schwarz’s legacy as “retail-tainment” pioneers. Life-sized versions of classic toys such as a space ship, fire truck, and toy train serve as bulk candy containers and design elements such as a toy soldier and a subway subway car will be at the checkout counter. A new FAO Schweetz-branded product line includes giant gummy bears and unicorns, mega chocolate bars, make-your-own gummy worm kits, Do-It-Yourself FAO Schweetz kits, amongst other sweets.
In popular culture
The Walking Piano
The New York store was featured in the 1988 Tom Hanks film Big, in which Hanks and Robert Loggia danced "Heart & Soul" and "Chopsticks" on the store's large dance-on piano.[26] Subsequently, it was also featured in the Broadway adaptation of the film, Big: The Musical, in 1996.
The store's interior was featured in the 1992 film Home Alone 2: Lost in New York for the fictional "Duncan's Toy Chest".[27]
In 1995, the store was featured in Woody Allen's Mighty Aphrodite in the final scene where main characters Lenny and Linda have a chance encounter. It is also featured in Baby Boom (1987) and Big Business (1988), among others.[28]
In 2011, the store was featured in The Smurfs during an "action-packed" chase scene in which the Smurfs encounter the evil wizard Gargamel.[29] Scenes from the movie were shot over five nights in May 2011.[30]
References
^ "FAO Schwarz: 150 Years of Toys". Archived from the original on January 16, 2014..mw-parser-output cite.citation{font-style:inherit}.mw-parser-output .citation q{quotes:"""""""'""'"}.mw-parser-output .citation .cs1-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/6/65/Lock-green.svg/9px-Lock-green.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .citation .cs1-lock-limited a,.mw-parser-output .citation .cs1-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/d/d6/Lock-gray-alt-2.svg/9px-Lock-gray-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .citation .cs1-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Lock-red-alt-2.svg/9px-Lock-red-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration{color:#555}.mw-parser-output .cs1-subscription span,.mw-parser-output .cs1-registration span{border-bottom:1px dotted;cursor:help}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/4/4c/Wikisource-logo.svg/12px-Wikisource-logo.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output code.cs1-code{color:inherit;background:inherit;border:inherit;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;font-size:100%}.mw-parser-output .cs1-visible-error{font-size:100%}.mw-parser-output .cs1-maint{display:none;color:#33aa33;margin-left:0.3em}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration,.mw-parser-output .cs1-format{font-size:95%}.mw-parser-output .cs1-kern-left,.mw-parser-output .cs1-kern-wl-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right,.mw-parser-output .cs1-kern-wl-right{padding-right:0.2em}
^ "Toys 'R' Us has big plans for luxe retailer FAO Schwarz". Archived from the original on October 26, 2012.
^ "To Move Up-Town," New York Times; April 28, 1897; page 3.
^ Display Ad," New York Times; November 11, 1883; page 15.
^ Display Ad," New York Times; November 26, 1896; page 3.
^ "CELEBRATING A STORIED HERITAGE AND CREATING NEW TRADITIONS TO DELIGHT CHILDREN EVERYWHERE, FAO SCHWARZ ANNOUNCES ITS EXTRAORDINARY OFFERINGS FOR HOLIDAY 2009". Archived from the original on March 13, 2013.
^ ab "BUILDING ON ITS STORIED HISTORY, FAO SCHWARZ® EMBARKS UPON THENEXT EVOLUTION OF ITS BRAND, DESIGNED TO CREATE ENCHANTING MEMORIES FOR A NEW GENERATION OF KIDS". Archived from the original on June 2, 2015.
^ "The Right Start buys FAO Schwarz". Archived from the original on June 13, 2011. Retrieved November 2, 2009.
^ The New York Times. January 13, 2003 https://www.nytimes.com/2003/01/14/business/business-digest-843555.html. Retrieved May 2, 2010. Missing or empty|title=(help)
^ Hays, Constance L. (December 3, 2003). "FAO to File for Bankruptcy And Break Up Toy Empire". The New York Times. Retrieved May 2, 2010.
^
Day, Sherri (January 27, 2004). "F.A.O. Schwarz Closes, Disappointing Visitors". The New York Times. Retrieved May 2, 2010.
^ "Turnaround Firm Buys FAO for $41M".
^ "Famous toy store to reopen". USA Today. November 23, 2004.
^ "FAO Schwarz Buys Best & Co".
^ "Toys "R" Us Acquires FAO Schwarz, Fifth Avenue Store". Bloomberg. May 28, 2009. Retrieved May 28, 2009.
^ "FAO Schwarz delivers new branding to its stores and web site".
^ Green, Steve. "FAO Schwarz lets Forum Shops lease expire, quietly leaves Las Vegas". Las Vegas Sun. Retrieved March 18, 2016.
^ United States Patent and Trademark Office. "Trademark Status & Document Retrieval: Serial Number 78759620". Retrieved December 21, 2012.
^ Passy, Charles. "FAO Schwarz Is Set to Return, And It Needs People to Dance on the 'Big' Piano". WSJ. Retrieved September 7, 2018.
^ "The world's most iconic toy store is reopening after suddenly shutting down 3 years ago". Retrieved September 4, 2018.
^ Hudson's Bay to bring iconic toy brand FAO Schwarz to Canada, Toronto: HBC news release, October 9, 2018
^ Thomas, Lauren (November 16, 2018). "FAO Schwarz makes its return to New York. Here's what its new store looks like inside". CNBC. Retrieved November 17, 2018.
^ "The world's most iconic toy store is reopening after suddenly shutting down 3 years ago". Business Insider. Retrieved October 27, 2018.
^ ab "FAO Schwarz Evolving, Rebranding".
^ "FAO Redesigns Brand with New Logo, Packaging".
^ "FAO Schwarz – Company Profile, Information, Business Description, History, Background Information on FAO Schwarz".
^ "F.A.O. Schwarz Toy Store on Fifth Avenue in NYC Is Closing: Details". May 16, 2015. Retrieved November 29, 2016.
^ "New York Tours visiting FAO Schwarz: Explore New York City through its famous TV & movie locations!".
^ "FAO Schwarz Gets Smurftastic Makeover, Celebrating Appearance in Smurf Film".
^ "THE SMURFS: Production Notes" (PDF). Archived from the original (PDF) on July 29, 2011. Retrieved April 4, 2012.
External links
 | Wikimedia Commons has media related to FAO Schwarz. |
- FAO Schwarz Website
- History of FAO Schwarz from inception to 2001.
- Article on Right Start's acquisition of FAO Schwarz.
- Article on FAO Schwarz bankruptcy filings.
- Another article on bankruptcy filing and store closures.
- Legendary Toy Store FAO Schwarz to Get New Home at Rockefeller Center: Reports.
Coordinates: 40°45′48″N 73°58′20″W / 40.7634°N 73.9723°W / 40.7634; -73.9723
