The FAO Schwarz toy store in midtown Manhattan will close in July because of rising rents, leaving the 153-year-old brand without a retail outlet.
Magnus Matthiasson of Los Gatos toted 3-year-old daughter Colby on his shoulders around the store. He said the family also stops at FAO Schwarz stores in other cities, such as Chicago, when they can -- a habit that reflects the chain's tourist-heavy customer base.
Store manager confirmed with The Chronicle that the Union Square FAO Schwarz store will be among the first casualties in 2003 when FAO Inc., the parent company, unloads stores in its attempt to avoid bankruptcy.
The new FAO Schwarz toy collection will be designed by ThreeSixty. It will "draw upon the one-of-a-kind products and legendary in-store experience at the FAO Schwarz flagship store in New York City," the company said.