FAO Schwarz Fifth Avenue Flagship Closes
Posted on July 18, 2015
FAO Schwarz has closed its Fifth Avenue flagship store. The store closed on Wednesday, July 15. The store has been open for nearly thirty years. The iconic store was made famous by the giant piano scene in the film Big starring Tom Hanks.
Toys R Us acquired FAO Schwarz in May 2009. They opted to close the store through an early exit plan in advanced of a 2017 lease expiration. The plans to close the store were announced in May. The rent for Toys R Us became too high for the store to be profitable.As an article in The Atlantic notes, the FAO Schwarz store was best known for some of its luxury toys, such as a $30,000 off-road vehicle and a $9,000 rocking zebra. FAO still carries some exclusive items online, such as Patrick the Pup Plush, a giant 60-inch plush puppy that retails for $299.99.
Here is a video of customers shopping at the iconic store for the last time. Take a look:
The toy store is gone from Fifth Avenue but it is expected to reappear in a new location. FAO Schwarz shared a "See You Soon" message on Facebook that says it will soon announce a new flagship location in New York City.