Under new management the business has plans to expand it's presence around the world, and the CEO, David Conn, wants to make the space experiential and draw in the crowds. With it's giant piano keyboard from the film "Big" which will feature on both the floor and the ceiling, and it's iconic collection of toys, fun themes and activities, it is sure to be a big attraction.
Originally known as the "Schwarz Toy Bazaar, the store first opened in Baltimore then moved to New York City. The business was subsequently purchased by a number of different buyers and was finally bought out by Toys R Us in 2009.
Just in time for Christmas the New York City toy store will prove to be a magnet for customers of all ages in the 20,000 square foot space, and attractions will include a racetrack for children to play with cars, whole walls full of Barbie dolls and a chance to Build-a-Bear at a specially appointed workstation. Other fun activities will include a magician teaching tricks and a candy shop.
The new owners are confident that there is a vacuum in the toy market after the closure of Toys R Us, and they mean to use this to make a name for themselves and keep customers coming back for more. Their key strategy is to get consumers away from purely online buying and to physically come out to the store for an experience that is unforgettable.
FAO Schwarz are aware of the fond memories older generations will have of visiting toy stores in their youth, and they want to cater for this and also draw in a whole new audience of children to delight in the toys and experiences they will offer. For that reason, customers will be able to find top new items such as Hatchanimals sitting alongside age-old favourites such as Steiff teddies that will be remembered by parents and grandparents. Whatever the age of their customer, FAO Schwarz promise to offer a magical and memorable experience in their New York store this Christmas.
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Walmart will close 269 locations worldwide, including 154 in the US. This is the worst part when a company wants to keep expanding.
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Macy's has launched its own way to mix style and charity with its Fashion Pass. For a few weeks and with $5, both customers and charities will benefit from this innovative idea.
