Renowned toy retailer FAO Schwarz continues its journey on the comeback trail, announcing its acquisition of Best & Co., a US retailer and manufacturer of luxury children’s apparel and accessories.

Best & Co. currently has a flagship store in Greenwich, Connecticut, and a boutique in Bergdorf Goodman in New York City. The company was founded in 1879 and was well-known for its children’s department.

Susie Hilfiger re-established the brand in 1997, after more than 20 years of inactivity. And FAO has made the acquisition with an eye to moving beyond toys and turning itself into a lifestyle brand.

Select items from the FAO Schwarz’s private-label toy collection will be featured in the Greenwich store in the next few weeks. And as part of the deal, Hilfiger remains creative director of Best & Co and designer of the brand’s collections.