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April 6, 2018
Toys ‘R’ Us has sold FAO Schwarz, one of the oldest toy retailers in the world, to ThreeSixty Group.
The terms of the transaction were not disclosed.
FAO Schwarz has been owned by TRU since 2009. In 2015, the historic toy retailer closed its New York city flagship location on Fifth Avenue due to the rising costs of operating the location.
“As toy makers, the opportunity to walk in the footsteps of the most iconic toy master is a dream come true,” says Johann Clapp, co-founder, ThreeSixty Group. “Our first step in building upon the prestige of the FAO Schwarz brand, will be launching an innovative, premium toy collection and creating unique in-store experiences that excite both our retail partners and consumers. The collection is just the first step in revitalizing this iconic brand.”
The new toy collection will draw on the store’s products and in-store experiences from its flagship location in New York. The line will also introduce “wow” items, which are intended to evoke the creativity and possibilities of childhood.
The new FAO Schwarz toy collection and in-store experiences will be available at select retailers in fall 2017. Until then, merchandise will be available online and at TRU locations throughout the U.S.
“We are humbled to have an opportunity to build upon the iconic heritage of FAO Schwarz,” says Kirk McLean, co-founder, ThreeSixty Group. “For more than 150 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.”
ThreeSixty Group is a designer, manufacturer and distributor of consumer products in the U.S. and represents more than 70,000 retail stores. The company creates merchandise in categories spanning toys and other children’s products, holiday gifts, home décor, games, radio controlled vehicles and drones, athletic accessories and more. Its products are marketed under a portfolio of owned and licensed brands including Blue Hat Toy Company, Sharper Image, Black Series, Discovery Kids, Smithsonian and Animal Planet.
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