Rebuilding an icon: FAO Schwarz
FAO Schwarz, arguably the most well-known toy store in the world, even before the giant keyboard scene with Tom Hanks and Robert Loggia in “Big,” celebrates its 145th anniversary this year. The retail icon has weathered two bankruptcies and now, under the leadership of CEO Ed Schmults, seems to be back on track and ready to pick up the mantle of its rich heritage.