TOYS“R”US, INC. ACQUIRES FAO SCHWARZ
May 27, 2009

Company Will Operate Legendary FAO Schwarz Stores As a Distinctive Business and Purveyor of Extraordinary Toys

WAYNE, NJ (May 28, 2009) — Toys“R”Us, Inc., the world’s leading dedicated toy and baby products retailer, today announced it has acquired FAO Schwarz, one of the most iconic children’s retailers in the world and a brand synonymous with quality and innovation.

We have enormous respect for the FAO Schwarz brand and for the special place it holds in the hearts of children everywhere, said Jerry Storch, Chairman and CEO, Toys“R”Us, Inc. Building upon this storied tradition is a responsibility we take very seriously. We will work tirelessly to preserve the distinctiveness and integrity of the FAO Schwarz stores and brand as we grow the business and, indeed, take the brand to even greater heights.

Following the acquisition, Toys“R”Us, Inc. will continue to operate the two FAO Schwarz retail stores, including the flagship location in New York City and a store at the Forum Shops at Caesars Palace in Las Vegas. In addition, the company will operate the FAO Schwarz e-commerce and catalog operations. Each of these businesses will continue to operate under the legendary FAO Schwarz name. All merchandising, management, distribution and marketing operations will immediately begin to transition to Toys“R”Us, Inc. Other terms of the transaction were not disclosed.

 

This acquisition allows us to grow our toy specialist market share and draw upon the unique strengths of both brands in developing quality products that differentiate us from our mass market competitors, continued Storch. To that end, we look forward to working together with the expanded universe of respected FAO Schwarz manufacturers and other valued partners, while developing innovative and quality product offerings. We are committed to providing the loyal clientele of FAO Schwarz with the unique shopping experience they have come to expect.

Toys“R”Us, Inc. will offer employment opportunities to FAO Schwarz associates in the New York and Las Vegas stores.

Toys“R”Us, Inc. currently operates stores in 33 countries worldwide, offering its customers a differentiated merchandise assortment and a first-to-market experience with the hottest new toys. The acquisition of FAO Schwarz further advances the company’s toy authority position and broadens its growing portfolio of family-friendly brands. Earlier this year, Toys“R”Us, Inc. expanded its online brand offerings through the acquisition of the highly regarded eToys.com, babyuniverse.com, Toys.com and parenting resource site, ePregnancy.com.

FAO Schwarz, which has been in operation since 1862, is the oldest toy retailer in the United States. Over time, it evolved from a simple toy store to a world-famous experience. It offers distinctive quality merchandise, including a line of toys marketed under the FAO Schwarz brand name. The toy retailer is best known for its famous flagship store in Manhattan which attracts millions of visitors annually. A destination for unique hands-on family activities, the store has become a much-anticipated part of any visit to New York for generations of children and adults worldwide.

About Toys“R”Us, Inc.

Toys“R”Us, Inc. is the world’s leading dedicated toy and baby products retailer. Currently it sells merchandise through more than 1,500 stores in 33 countries worldwide, including 847 Toys“R”Us and Babies“R”Us stores in the U.S., more than 700 international stores, which includes licensed and franchise stores, and through its Internet sites, Toysrus.com, Babiesrus.com, eToys.com and babyuniverse.com. The company also operates the parenting resource website, ePregnancy.com.

 

Daniel Pickett
Daniel “Julius Marx” Pickett has been around toys his whole life. The first line he ever collected was Mego’s World’s Greatest Super Heroes line back in the 70s. He has been surrounded by collectables ever since. In 1999 he was confounded by a lack of information and news about some of his favorite toy lines he was collecting. Since he couldn’t find the information he decided to pursue it himself thinking other people might also be interested in the same news. He started writing a weekly column on the toy industry and action figure for a toy news site and in a years time he tripled the sites daily traffic with his updates, reviews and product features. He built relationships with every major toy manufacturer and many sculptors, painters and mold makers. He grew his hobby into a world wide expertise that the industry has embraced. In 2004 he teamed up with his toy buddy Jason “ToyOtter” Geyer and they created their own website www.ActionFigureInsider.com. Daniel has been quoted in both industry and mass media press outlets. Over the years Daniel and AFi have been sought out as experts in the field. Daniel was regularly featured on “Attack of the Show” on the G4 network as the primary contributor to their “Mint On Card” segment, and our front page has been linked to from USA Today’s “Pop Candy” Blog twice. Daniel’s content has also been featured on MSNBC.com, Wired.com, Fark.com, Boing-Boing, Gizmodo.com, Ain’t It Cool News, the Official Star Wars blog, Geekologie, G4, CNet and Toy Fare magazine, among many others. He has consulted on toy lines, books, documentaries and TV shows. But all of that really just sounds snooty and “tootin’ his own horn” – the long and short of it is that Daniel loves toys and he LOVES talking about them.
Read other articles by Daniel Pickett.

 

 

 

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