FAO Schwarz is known worldwide as a premier retailer of toys and luxury items for children. In addition to the company's flagship store on Fifth Avenue in New York, FAO Schwarz has a store in Las Vegas as well as a growing Internet and catalogue business. Mr. Schmults will work closely with the rest of the firm's senior management team to grow FAO Schwarz's business in a manner consistent with its position not only as a leading retailer of upscale, innovative, and collectible toys but also an icon beloved by generations of children and their parents.