Listen Now: FAO Schwarz
One of the world’s most well-known toy stores is making a comeback.
In 2015, FAO Schwarz, the iconic store on New York’s Fifth Avenue, home of the giant piano from the movie “Big”, closed its doors. Now, the toy store brand is coming back to Manhattan, opening a new location about five blocks south in Rockefeller Plaza.
The new store is being developed by threesixty group that purchased the entire brand from Toys’R’Us in 2016. Now it plans to open in November, just in time for the holiday rush.
According to the Wall Street Journal, the store will be even more interactive, with product demonstrations from employees and magicians and people dressed up as characters such as toy soldiers.
And the new FAO Schwarz is hoping to attract more toy shoppers this year, to help fill the void left by Toys’R’Us which closed up shop for good this year, and liquidated all of its stores.
Once the Rockefeller Plaza location opens the plan is to put a smaller location in Laguardia Airport before setting its sights on China.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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