As we continue to slide into the recession (assuming its not already over as New York magazine would lead us to believe), we’ve worried about the fate of high-end toy store FAO Schwarz, which filed for bankruptcy back in 2004. After all, low-end toy store KB Toys, which also declared bankruptcy in early 2004, just filed for Chapter 11 again on Thursday. What’s to stop FAO Schwarz from following suit? Can we really expect people to shell out big bucks for oversized stuffed animals and life-sized Barbie dolls in this economy?
Well, apparently it doesn’t matter whether ordinary people are frequenting the toy store. FAO has rich celebrities to keep them afloat. Lately we’ve noticed a stream of paparazzi photos of celebs shopping at New York City’s high-end toy store FAO Schwarz (Look, there’s Britney! And Katie and Suri! And Brooke Shields!).
While we’re not 100% sure that Brooke actually bought anything (hey, her show just got cancelled!), all of those appearances are at least good PR for the store. In fact, they’re such good PR that we wonder if FAO isn’t behind it, luring celebs to buy toys at their store to get their name in the press. Nonetheless, FAO hasn’t filed for bankruptcy again, so whoever’s behind these shopping sprees, keep it up! We’d like FAO Schwarz to still be around when the recession’s over, and we actually have money to shop there.
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