NEW YORK — Saks Inc. is taking a minority stake in the bankrupt FAO Inc., which in turn will open up licensed shops inside Saks department stores featuring merchandise from its FAO’s retail concepts, including FAO Schwarz, The Right Start and Zany Brainy. The three chains sell toys and educational products for infants, toddlers and children.
Under the agreement, licensed FAO boutiques, including FAO Express shops, will open in most of Saks’ 245 department stores, which operate under the names Parisian, Proffitt’s, McRae’s, Younkers, Herberger’s, Carson Pirie Scott, Bergner’s and Boston Store. Saks also operates the Saks Fifth Avenue and Off 5th stores, but those are not included in the agreement.
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