FAO Schwarz
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- For other uses of "FAO", see FAO (disambiguation).
FAO Schwarz is the name of a high-end toy store chain founded in New York City in 1870 by German immigrant, Frederick August Otto Schwarz. The original name of the store was Toy Bazaar. (The company traces its history back to 1862 in Baltimore, when Schwarz first began retailing toys from his fancy-goods store there.) It is known for its offering rather exotic gifts for children, such as a gas powered, miniature Mercedes-Benz for children under ten costing several thousand dollars.
FAO Schwarz was notably featured in the 1988 Tom Hanks film Big, in which Hanks and Robert Loggia played "Chopsticks" on the store's signature 22-foot piano.
At its height, the chain had a total of 40 stores throughout the United States. In 2001, The Right Start Company bought 22 of the 40 stores, and the other 18 unsold stores were immediately closed. In December 2002, Right Start, the then parent of FAO Schwarz, filed for bankruptcy. They would emerge from bankruptcy in April 2003 only to re-enter it in December 2003, forcing all stores to close. After FAO Schwarz was again sold to new owners D. E. Shaw & Co., L.P., the New York City and Las Vegas stores reopened on Thanksgiving Day 2004. The New York City store, on Fifth Avenue, is still very popular, and one of the most famous destinations in the city.
[edit] Locations of FAO Schwarz stores
- New York City (Fifth Avenue at 58th Street)
- Las Vegas (The Forum Shops at Caesars Palace)
