A lot of happy childhood memories were laid to rest when FAO Schwarz’s flagship Manhattan store closed its doors in 2015.
So many were happy to announce when it was announced that the toy store will be making a comeback.
ThreeSixty Group, which owns Sharper Image, bought FAO Schwarz from Toys R Us in 2016.
That company announced that FAO Schwarz will open a new 20,000-square-foot store at Rockefeller Center in midtown Manhattan on Nov. 16, according to Business Insider.
FAO Schwarz will also open up airport stores.
This includes stores at New York’s LaGuardia airport and pop-up shops in Canada, the UK, Australia, and Spain.
“The word is out! We’ll be opening our doors in #NYC on November 16th in Rockefeller Center. Check out CNBC to learn more about our plans to set up locations in Canada and China in addition to pop-up shops in Spain, Australia, and London. We are ready to #ReturnToWonder!” the company wrote on Facebook.
CNN Business also reports that FAO Schwarz has been selling inside of Kohl’s.
FAO’s Manhattan store will be filled with product demonstrators, baby adoption center, magicians, and costumed actors.
“Everything we are doing revolves around 30 Rock…That’s the anchor,”ThreeSixty Brands’ CEO David Conn told CNBC .
The store, which is five blocks from the old location, will bring backs it’s iconic life-sized piano that was featured in the movie “Big.”
Another full 27,000-square-foot store will open up in Beijing in 2019 in partnership with Kidsland China.
Some say that FAO Schwarz is looking to capture some of the sales left behind when their former parent company Toys R Us liquidated all of its US stores in early 2018.
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But not everyone thinks that FAO Schwarz’s strategy is going to work.
“Instead of developing a strategy that reaches younger shoppers, FAO Schwarz has chosen to tap into ’80s nostalgia by featuring in-store spectacles. It’s outdated and doesn’t show a fundamental understanding of their customers,” Bob Phibbs, chief executive of New York-based consultancy the Retail Doctor, said.
CNN Business reports that FAO will be facing competition from big retailers like Target, Walmart, and Amazon who have increased their offerings to fill the gap left by Toys R Us.
Toys R Us, however, may also be making a comeback.
Their bankruptcy action was recently canceled with investors saying they are looking to revive the brand.
CBS News reports that investors said they are working with potential partners to develop new ideas for stores in the U.S., as well as international stores “that could bring back these iconic brands in a new and re-imagined way.”
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