Toys ‘R’ Us, Inc., the world’s largest toy retailer, is selling its FAO Schwarz brand to ThreeSixty Group, based in Irvine, CA. The terms of the transaction were not released.
FAO Schwarz was the oldest toy store in the United States when its New York location closed in 2015 and ThreeSixty plans to make new toys under the FAO brand.
ThreeSixty Group is a designer, manufacturer and distributor of consumer products to major retailers in the U.S. representing over 70,000 retail stores. Products include toys and other children’s products, holiday gifts, home décor, games, radio controlled vehicles and drones, and athletic accessories — all marketed under a portfolio of owned and licensed brands including Blue Hat Toy Company, Sharper Image, Black Series, Discovery Kids, Smithsonian, and Animal Planet.
“We are humbled to have an opportunity to build upon the iconic heritage of FAO Schwarz,” said Kirk McLean, co-founder of ThreeSixty Group. “For over one hundred and fifty years, FAO has provided a magical experience for children and we hope to keep this tradition alive by crafting fine toys and transformative retail experiences for generations to come. We are investing heavily in this brand and believe there is a tremendous opportunity to build upon the heritage experience and nostalgia of FAO Schwarz.”
The new FAO Schwarz toy collection designed by ThreeSixty will draw upon the one-of-a-kind products and legendary in-store experience that was found at the FAO Schwarz flagship store in New York City. It will also honor the brand’s legacy of innovation through the introduction of new “wow” items intended to evoke the limitless possibilities and creativity of childhood. The new FAO Schwarz toy collection and in-store experience will be available at select retailers in the fall of 2017. Until then, FAO Schwarz merchandise will be available online and at Toys’R’Us stores across the country.
Since 1862, FAO Schwarz has been synonymous with quality and innovation, offering one-of-a-kind playthings and creating cherished memories for generations of children.