FAO Schwarz News: Iconic Toy Store Returns to NYC

It will open in Manhattan's Rockefeller Center

By Karl Utermohlen, InvestorPlace Writer

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In the latest FAO Schwarz news, one of the most iconic toy stores in New York City and the U.S. will open its doors once again in the Big Apple due to popular demand.

FAO Schwarz NewsThe toy store is known for being extremely luxurious, extravagant and expensive and it existed for more than 150 years before shutting down. The iconic fantasy store opened on Fifth Avenue in Manhattan in 1986 as a tourist attraction, featuring doormen who looked like palace guards, a musical clock tower and even its own theme song.

However, FAO Schwarz’s parent company was hit with a slew of financial problems, as well as increasing rent prices that caused the store to close in 2015. The store is now recovering from the worst financial situation it faced since its inception in 1862.

Now, the store is making a comeback by opening today in Manhattan’s Rockefeller Center, which is located roughly 10 blocks from where it used to be located near Central Park. One of the most iconic elements of the old FAO Schwarz store was the giant piano keyboard mat that Tom Hanks danced to “Heart and Soul” in the classic 1988 film Big.

The store is bringing back the oversized piano mat on its second level, which has 60 keys and the store is selling replicas of it for $128. The big entrance clock is also returning to the new FAO Schwarz location.


Article printed from InvestorPlace Media, https://investorplace.com/2018/11/fao-schwarz-news/.

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