FAO Schwarz, whose famous New York store closed more than two years ago, is setting its sights on China as part of an expansion begun late last year. Kidsland will also open 30 smaller FAO Schwarz stores and shops in 200 department stores across China over the next five years. FAO Schwarz also signed an agreement with Hudson Group, one of the largest travel retailers in North America, to open a chain of FAO Schwarz-branded airport shops in the U.S. and Canada. FAO Schwarz also plans to open a new 20,000-square-foot store in New York's Rockefeller Plaza in time for the holiday 2018 season. The expanded moves could hurt Toys R Us, which used to own FAO Schwarz.

Source: ABC News February 15, 2018 15:25 UTC