To experiential retail and beyond: Inside FAO Schwarz’s new digs

The opening marks a relaunch of the iconic toy store by its new owner ThreeSixty Brands

New York /
Aug.August 29, 2018 10:14 AM

A rendering new FAO Schwarz (Credit: FAO Schwarz)

FAO Schwarz is set to reopen a flagship store at the Rockefeller Center in November. And it’s betting a truly unique experience will generate enough buzz to put the brand back on the map.

The company will move into a 20,000-square-foot space in an area where rents are as high as $3,200 a square foot — on one of the most expensive lots in New York City, according to the Wall Street Journal. The re-emergence of the brand pushes back against the hardships facing brick-and-mortar retail stores, and comes just months after its former owner, Toys “R” Us, closed down.

Though new owner ThreeSixty Brands didn’t disclose the construction costs or the lease terms with landlord Tishman Speyer, it will be an expensive project.

Given the costs,ThreeSixty may not actually be looking to make a profit on the flagship store, retail expert Jed Wexler told the Wall Street Journal.

“It feels like an advertising play,” he said.

At the Rockefeller Center, the new store will include the oversized piano keys made famous by Tom Hanks in the movie Big and actors portraying different toys.

ThreeSixty has plans to open second store at LaGuardia Airport and another in China, according to the Journal. [WSJ] — David Jeans


Related Articles

arrow_forward_ios
Brookfield's Bruce Flatt with 1100 Newark Turnpike (Loopnet, Brookfield)
Brookfield buys CSX industrial site in Northern New Jersey for $67M
Brookfield buys CSX industrial site in Northern New Jersey for $67M
198 Scholes Street, 65 Kent Avenue, 506 DeKalb Avenue and 11 Gunther Place (Illustration by the Real Deal with Getty, Google Maps)
Avi Philipson deal to acquire All Year portfolio is back on
Avi Philipson deal to acquire All Year portfolio is back on
From left: McSam Hotel Group's Sam Chang and SL Green's Marc Holliday with 711 Seventh Avenue  (Getty, Google Mpas, SL Green)
Times Square hotel developer sues neighbors over delayed demolition
Times Square hotel developer sues neighbors over delayed demolition
Napa Valley hot-air-balloon business lists for $12M
Napa Valley hot-air-balloon business lists for $12M
Napa Valley hot-air-balloon business lists for $12M
A photo illustration of the proposed Lower Platte River Corridor (Getty, Plan Preserve Play NE)
Nebraska lawmakers mull digging $1B recreation lake
Nebraska lawmakers mull digging $1B recreation lake
Illustration of Stefan Soloviev (HaydenSoloviev, CC BY-SA 4.0, via Wikimedia Commons, Getty)
Soloviev bets long-dormant Midtown East site in casino sweepstakes
Soloviev bets long-dormant Midtown East site in casino sweepstakes
CHIP's Jay Martin and HCR Commissioner RuthAnne Visnauskas (Getty)
Lies, damn lies, and statistics: Did rent-stabilized vacancies really fall?
Lies, damn lies, and statistics: Did rent-stabilized vacancies really fall?
PulteGroup's Ryan R. Marshall and RedFin's Glenn Kelman (PulteGroup, RedFin, Getty)
Wall Street is bidding up housing stocks again
Wall Street is bidding up housing stocks again
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...