In the world of cuddly collectibles, one name has risen to prominence in recent years – Squishmallows. These irresistibly soft and squishy plush toys have taken the toy market by storm, becoming much more than just stuffed animals; they are a cultural phenomenon.
The Birth of Squishmallows
In 1997, Judd Zebersky, a lawyer practicing in Florida, decided to leave his job and start a toy company. His vision was to make safe, high-quality toys for kids of all ages. He named his company Jazwares, and his wife Laura joined him a few years later. 25 years later, Jazwares acquired Kellytoy and is a $1 billion business.
Squishmallows first hit the shelves in 2017 after being created by Kellytoy company, and it didn’t take long for them to gain widespread attention. Drawing inspiration from the world of Japanese squishy toys and a growing demand for sensory toys, they envisioned a line of plush creatures that would captivate both children and adults. After Jawares took over Kellytoy, they realized that the stuffies could be a big hit if they implemented the right marketing strategies. The result was Squishmallows, introduced to the market as a line of super soft, squishy, and lovable characters that quickly captured the hearts of toy enthusiasts worldwide.
The combination of their distinctive design, velvety texture, and the diverse range of characters appealed to a broad audience. Unlike traditional stuffed animals, Squishmallows had a unique selling point – the irresistible squish factor. Squishmallows range from 2 to 24 inches in size and although there are many unique characters, many are licensed characters from popular movies or television like Yoda, Mickey Mouse, and Hello Kitty.
Online Popularity
Their popularity surged through social media platforms, with influencers and toy enthusiasts sharing their love for these plush creatures. The #Squishmallows hashtag trended across Instagram and TikTok, showcasing the diverse collections that people were amassing. This digital word-of-mouth marketing contributed significantly to the Squishmallows craze. On TikTok alone Squishmallows videos have been viewed more than 10 billion times and fans have posted more than over a million times on Instagram.
Popular Squishmallows
Squishmallows come in various shapes, sizes, and designs, with each character having its own unique personality. Some of the most popular Squishmallows include:
Hugely Huggable Unicorns: Unicorn-themed Squishmallows have become iconic, with their pastel colors and whimsical designs.
Adorable Avocados: These avocado-shaped Squishmallows have gained popularity for their quirky charm.
Cuddly Corgis: Corgi-themed Squishmallows, with their fluffy tails and expressive faces, have become a fan favorite.
Oceanic Octopuses: Squishmallows featuring underwater creatures like octopuses have become sought after, appealing to marine life enthusiasts.
Furry Friends: Classic animal-themed Squishmallows, ranging from bears to bunnies, continue to be immensely popular among collectors.
What sets Squishmallows apart is their appeal to collectors of all ages. The limited editions, rare releases, and seasonal characters create a sense of urgency and excitement in the collector’s community. Some Squishmallows have gained near-mythical status, with fans participating in trading events, scouring stores for exclusive releases, and joining online forums to discuss their collections.
Sales
100 million Squishmallows units were sold in 2022 alone, with prices ranging from $5 to $30. These toys contribute 40% of Jazwares’ entire revenue for the past two years. There are now more than 2,000 styles being sold in more than 55 countries. Through acquisitions, Berkshire Hathaway has inherited Jazwares, with the Zeberskys now reporting to Warren Buffet’s successor Greg Abel. After the acquisition, Jazwares created Warren Buffet and Vice Chair Charlie Munger Squishmallows that are selling for as high as $450 on ebay.
Jazwares also teamed up with McDonald’s to include mini Squishmallows in their Happy Meals in June 2023.