FAO Schwarz is the world’s most renowned toy store. They are a retailer that is located in New York City, but has locations all over the world. Their main flagship location is located on 5th Avenue in New York City, and was famously featured on the “Home Alone” movie franchise.
The store was originally started in 1862 as Toy Bazaar. It was created by a German Immigrant named Frederick August Otto Schwarz. The original location of the store was actually in Baltimore. It was here that he first began selling toys and a number of other goods. After the success of the original store, he also opened locations in Philadelphia and Boston.
It was not until 1870 that the first location opened in New York City, at the time, the location was known as “Schwarz Toy Bazaar.” The store called a number of locations home including 42 E. 14th Street, which is located in Union Square. After several moves, the store finally located to its currently home. In the late 19th century, the New York Times stated that the store was “the largest dealer of toys in the city,” quickly heightening its status among the residents of the city.
The store was most known for their holiday toys selection. Each year, beginning in November, they would stockpile a number of toys that were Christmas themed, or meant to be Christmas gifts. It was the premiere location in New York City to find gifts for kids. It was not until 1889 that the name of the store was changed to “F.A.O. Schwarz.”
The business was eventually sold to Parents Magazine in 1963, after the death of the original founder. The officials with Parents Magazine quickly recognized how large the brand could become, and sought out investors to help the business expand. They added a number of different locations, and expanded the space of their flagship store in New York City.
Today, FAO Schwarz is owned by the Toys “R” Us corporation. They were able to acquire the business in May 2009, and did not disclose how much was paid. This led to the closing of many of the FAO Schwarz stores that were housed inside of other department stores, including all of the locations inside of Macy’s department store.
FAO Schwarz occupies the General Motors Building in Manhattan. Today, it is the only brick and mortar location that is still in operation, and is one of the most popular tourist attractions in New York City. The location is sought after by tourists and sightseers alike, and is known for their huge collection of innovative and original toys, many of which cannot be found at any other store in the world. One of the largest attractions for the children inside the store is the “Big Piano,” which was featured in the Tom Hanks movie, “Big.” Although their number of locations has shrunk to all but one, the store is still one of the most famous locations in New York City and continues to welcome people from around the world.
