Toys "R" Us Sells FAO Schwarz Brand

ThreeSixty Group acquired the 154-year-old FAO Schwarz brand, which had been owned by Toys “R” Us (Wayne, N.J.) since 2009.

As part of the deal, Toys “R” Us will sell a new FAO Schwarz toy collection, designed by ThreeSixty, reports CNBC.

“While we recognize there is nostalgia and history associated with this brand, the agreement allows us to focus on the aspects of our business which will fuel our long-term growth,” Toys “R” Us spokeswoman Elizabeth Gaerlan said.

The new FAO Schwarz line will be available online and at Toys “R” Us stores and will be sold at select retailers in 2017.