Squishmallows

Squishmallows
Product typeStuffed toy
OwnerJazwares
Produced byKelly Toys Holdings LLC
CountryUnited States
Introduced2017; 7 years ago (2017)
MarketsUnited States
Websiteshop.jazwares.com/pages/squishmallows/
A small collection of Squishmallows plushes

Squishmallows is a brand of stuffed toy that was launched in 2017 by Kelly Toys Holdings LLC and is owned by Jazwares, a Berkshire Hathaway company.[1] Squishmallows are round and come in a variety of colors, sizes, animals, and textures. The brand has created over 3,000 Squishmallows styles.[2][3][4]

History

Founder

Kelly Toys Holdings, headquartered in Los Angeles, California, was founded in 1986 by Jonathan Kelly.[5] In an interview with Yahoo! Finance, Kelly stated that he came up with the idea for Squishmallows when he went to Japan and saw a variety of appealing toy products, including plush toys. Kelly and his team then spent several months creating a toy that emulated the “soft, cute, and kawaii” look of the Japanese plush toys.[6] Judd Zebersky, CEO and president of Jazwares, announced a strategic partnership with Kelly Toys in 2019 to "reinvigorate and expand distribution" of its Russ Berrie brand, which Jazwares had acquired in 2018. After collaborating for a year, Jazwares acquired Kelly Toys to expand its marketplace position and obtain additional marketplace licenses for the brand. Kelly Toys was acquired by Jazwares, a Berkshire Hathaway company, in 2020.[7] The official partnership was announced in April of 2020 by Zebersky along with Kelly Toys and their parent company, Alleghany Corporation.[8] Kelly Toys Holdings was Jazwares' second acquisition following their acquisition of Wicked Cool Toys in 2019.[9]

Popularity

Squishmallows first gained success during the COVID-19 pandemic in 2020 through social media outlets, like TikTok, where Squishmallows collectors would post about their plush toy collections. The TikTok hashtag #Squishmallows has gained over 550 million views. Squishmallows has acquired nearly 120,000 followers on Twitter as of 2023,[10] 456,000 TikTok followers[11] and nearly 890,000 followers on Instagram. As of May 2024, the brand has more than 13 billion views on TikTok and has been tagged more than 1 million times on Instagram.[12] As of August 2024, 400 million Squishmallows units, in 3,000 styles, have been sold.[13][12]

Collaborations

Since the company’s partnership, Squishmallows has collaborated with many other brands, further expanding its position in the market. Some notable collaborations include Squishmallows x Hello Kitty, announced on Jazwares’ official website in April of 2021,[14] and Squishmallows x Pokémon, which debuted at San Diego 2022 Comic-Con where guests could view the upcoming launch of Squishmallows characters.[15] The company has also linked with Monopoly and created a Monopoly board involving purchasing Squishmallows instead of properties.[16] The game also includes a special version of Cam the Cat which can only be found in this game.[17] In December of 2023, McDonald’s announced Squishmallows x McDonald’s. This collaboration presented 12 Squishmallows plushies as collectible Happy Meal toys, including a special-edition Grimace design.[18] The most recent collaboration as of March 2024 is Squishmallows x Puma, which released a select few of Squishmallows characters as sneaker and apparel designs available to consumers at retail stores and on the PUMA website.[19]

Product

Materials

Squishmallows are made from soft spandex and filled with polyester fiber.[20] As mentioned by Squishmallows on their Twitter account, they are manufactured in China.[21] Squishmallows originally came in four sizes, but are now sold in 12 different sizes ranging from a clip-on 3.5 inches to a large 24 inches.[22] Authentic Squishmallows can be identified by their three attached tags. Squishmallows have also extended their line to include HugMees, Squish-Doos, Heroes, FlipAMallows, FuzzAMallows, Squisharoys, Squooshems, Squishville, Mystery Squad, Micromallows, and Stackables.[23]

Demonstration of reversible Squishmallows known as Flip-A-Mallows

Retailers

Squishmallows were originally sold directly through the KellyToys website and later became available in retail locations through partnerships with stores such as Walgreens. Squishmallows can now be found in many stores including Costco, Target, Walgreens, CVS, Kroger, Hot Topic, London Drugs, Five Below, GameStop, Walmart and Hamrick's and online retailers like Amazon and the official website. Squishmallows are sold in more than 60 countries, including Canada, Mexico, the United States, the United Kingdom, and Australia.[24][25]

Pricing and collectability

Example of a Squishmallow with a "First to Market" tag.
Example of a Squishmallow with a "Rare" stamp on the tag.

In 2022, Squishmallows announced a new Rarity Scale for their plushies. This rarity scale presents a limited number of units sold for each design. “Regular” Squishmallows have an unlimited production quantity and will depict a standard tag on each design. Squishmallows in the “Rare” scale will have a silver stamp on the tag, indicating only 75,000 units of that design are available. “Ultra Rare” Squishmallows have a gold stamp on the tag with only 50,000 units available. “Special Edition” Squishmallows are sold with a holographic stamp on the tag, only having 20,000 units available. “Select Series” Squishmallows are marked with a black stamp and are exclusively sold on the Squishmallows website. Only 10,000-5,000 units of Select Series designs are sold. A “First to Market” stamp on Squishmallows indicates that a specific plush is part of the first 5,000 units to be released. “Check-In Series” Squishmallows are location exclusive designs that require you to visit a specific store during a certain event to acquire that design. “Founder’s Edition” Squishmallows are obtained by redeeming a Founder’s Redemption Card, only found in Squishmallow Trading Card packs.[26]

Due to the demand for the toy, Squishmallows are often sold by resellers for an increased price. The average resell price for a Squishmallows depends on the size, condition, and rarity of the specific style. Some limited edition or high-demand Squishmallows are sold by resellers and collectors for hundreds or thousands of dollars. Jack the Black Cat, known for its closed white eyes and white whiskers, is one of the rarest Squishmallows sold to date. KellyToys introduced the limited edition stuffed animal on their website in 2020, where it sold out within two hours.[27] Third-party websites like eBay host listings for Jack the Black Cat valued at nearly $2,000.[28] Among the many Squishmallows that are sold, some of the most popular include Connor the Cow, Malcolm the Mushroom, Archie the Axolotl, Benny/Brina the Bigfoots, and Philippe the Frog. There are reports that resellers are harassed and doxxed by the community. Controversy surrounds the concept of resellers and Squishmallows traders within the community. [29]

Event-exclusive Squishmallows

Event-exclusive Squishmallows are generally considered rare and the odds of winning can be as low as approximately 1 in 10,000 such as the prize for Squishmallows Trading Card Sweepstakes: JSK Business Cat.[30]

Awards

Year Award Organization Result Ref
2021 Toy of the Year Toy Association Won [31][32]
2022 Toy of the Year Toy Association Won [32]
2022 People's Choice Toy Association Won [33]
2022 License of the Year Toy Association Won [33]
2022 Plush Toy of the Year Toy Association Won [34]
2023 Toy of the Year Toy Association Won [35][36]
2023 People's Choice Toy Association Won [31]
2023 Plush Toy of the Year Toy Association Won [31][37]
2023 Collectible of the Year Toy Association Won [31][37]

Philanthropy

Kelly Toys Holdings has a charitable donation program called Kelly Toys Care where Kelly Toys Holding's employees would volunteer to host charitable events and donate toys to anyone that needs comfort. According to Kelly Toys Care, they value “Education, Inclusion, and Mental Health and Wellness.”[38] They also want to support any charitable organizations around the world with the same mission and spread awareness regarding mental health. Jazwares, Squishmallows' parent company, has a philanthropic arm called Jazwares Cares, which supports children's health, wellbeing and educational development through play, via donations, sponsorships, educational programs and volunteerism, primarily on Jazwares staff. The program often donates toys, including Squishmallows. In September 2023, it donated 10,000 limited edition "Star" Squishmallows to Make-A-Wish Foundation chapters in the U.S. and Canada.[39] In December 2023, it partnered with the Stockton Kings to donate 1,700 toys to local families.[40]

See also

References

  1. ^ Li, Yun (May 3, 2024). "Warren Buffett's shopping extravaganza kicks off with Squishmallows pit, 'Poor Charlie's Almanack'". www.msn.com. Retrieved 2024-08-14.
  2. ^ Lorenz, Taylor (2021-03-16). "Squishmallows Are Taking Over". The New York Times. ISSN 0362-4331. Archived from the original on 2023-08-16. Retrieved 2021-10-27.
  3. ^ "About Squishmallows". Squishmallows. Archived from the original on 2022-06-11. Retrieved 2022-05-17.
  4. ^ Stempel, Jonathan (May 13, 2023). "How TikTok sensation Squishmallows found Warren Buffett". Reuters. Retrieved August 15, 2024.
  5. ^ Equity Research, Zacks. "Alleghany's Unit Closes Buyout of Squishmallows Owner Kellytoy". Archived from the original on 2021-10-27. Retrieved 2021-10-27.
  6. ^ "Squishmallow creator on rising popularity, department store deals". www.yahoo.com. 10 September 2020. Archived from the original on 2021-10-27. Retrieved 2021-10-27.
  7. ^ "Jazwares acquires Kellytoy". aNb Media, Inc. 2020-04-02. Archived from the original on 2021-10-27. Retrieved 2021-10-27.
  8. ^ Rachael (2020-04-02). "Jazwares acquires Kellytoy". Toy World Magazine | The business magazine with a passion for toys. Retrieved 2024-04-20.
  9. ^ Equity Research, Zacks. "Alleghany's Unit Closes Buyout of Squishmallows Owner Kellytoy". Archived from the original on 2021-10-27. Retrieved 2021-10-27.
  10. ^ Haasch, Palmer. "Squishmallows went viral in 2020 and are quickly becoming Gen Z's Beanie Babies". Insider. Retrieved 2021-10-27.
  11. ^ "TikTok - Squishmallows". www.tiktok.com. Retrieved 2024-08-15.
  12. ^ a b Parker, Liz. "Jazwares signs co-branding deal with See's Candies | Snack Food & Wholesale Bakery". www.snackandbakery.com. Retrieved 2024-08-16.
  13. ^ "TFNY: Kellytoy Celebrates 50 Million Squishmallows Sold • The Toy Book". The Toy Book. 2020-02-11. Archived from the original on 2021-10-26. Retrieved 2021-10-27.
  14. ^ "Kellytoy Partners with Sanrio® to Bring Hello Kitty and Friends Squish". Jazwares. Retrieved 2024-04-20.
  15. ^ Jazwares. "TWO POP-CULTURE SENSATIONS SQUISHMALLOWS AND POKÉMON JOIN FORCES FOR EPIC PLUSH COLLABORATION". www.prnewswire.com (Press release). Retrieved 2024-04-20.
  16. ^ "Amazon.com: Monopoly: Squishmallows | Collector's Edition Featuring Cam The Cat Plush | Buy, Sell, Trade Spaces Featuring Squshmallows | Collectible Classic Monopoly Game | Officially-Licensed Squishmallows Game : Toys & Games". www.amazon.com. Retrieved 2022-12-23.
  17. ^ Sheehan, Gavin (2022-11-10). "Squishmallows Receives Its Own Monopoly Game". Bleeding Cool News And Rumors. Archived from the original on 2022-12-23. Retrieved 2022-12-23.
  18. ^ WKRC (2023-12-23). "McDonald's announces collaboration with Squishmallows, bringing them to Happy Meals". WTGS. Retrieved 2024-04-20.
  19. ^ Briguglio, Mario (2024-03-09). "Squishmallows x PUMA Collection Releases March 2024". Sneaker Bar Detroit. Retrieved 2024-04-20.
  20. ^ Terri Peters (19 March 2021). "What are Squishmallows? What parents should know about the hot toys". TODAY.com. Archived from the original on 2021-10-27. Retrieved 2021-10-27.
  21. ^ Squishmallows® [@squishmallows] (2020-02-06). "@doemeg @emily_erdos Our factories aren't in Wuhan - but you can check production dates on the SIL" (Tweet). Archived from the original on 2021-11-02. Retrieved 2022-01-24 – via Twitter.
  22. ^ "Squishmallows". See Mom Click. 2021-06-11. Archived from the original on 2021-10-27. Retrieved 2021-10-27.
  23. ^ "Super Soft Plush Toys". Squishmallows. Archived from the original on 2022-02-17. Retrieved 2022-02-17.
  24. ^ "Retailers – Squishmallows". Archived from the original on 2021-10-27. Retrieved 2021-10-27.
  25. ^ Ash, Rebecca (2024-05-20). "Squishmallows Boosts EMEA Licensing Programme". Total Licensing. Retrieved 2024-08-16.
  26. ^ "Squishmallows Rarity Guide". Jazwares. Retrieved 2024-04-20.
  27. ^ Goodley, Alvin (2021-09-27). "8 of the Rarest and Most Expensive Squishmallows Ever Sold". Rarest.org. Archived from the original on 2021-11-01. Retrieved 2021-11-01.
  28. ^ "Kellytoy Introduces the 500th Member of the Squishmallows Squad [UPDATED] • The Toy Book". The Toy Book. 2020-09-01. Archived from the original on 2021-11-01. Retrieved 2021-11-01.
  29. ^ Lucas, Jessica (2 May 2022). "Squishmallows are adorable, but their online fandom has a dark side". Input. Archived from the original on 2022-05-02. Retrieved 2022-05-03.
  30. ^ Lyons, Eric (20 April 2022). "The 10 Rarest and Most Expensive Squishmallows Ever Sold". TheMostExpensive.org. Archived from the original on 2022-07-01. Retrieved 2022-07-01.
  31. ^ a b c d Tonks, Caroline (2023-11-21). "Squishmallows takes home US Toy of the Year award". Toy World Magazine | The business magazine with a passion for toys. Retrieved 2024-09-18.
  32. ^ a b Erd, Amanda (2023-11-20). "It's a Three-peat! Squishmallows Again Named Toy of the Year". Gifts & Decorative Accessories. Retrieved 2024-09-19.
  33. ^ a b Erd, Amanda (2022-11-22). "Back to Back! Squishmallows Again Named Toy of the Year, People's Choice Winner". Gifts & Decorative Accessories. Retrieved 2024-09-19.
  34. ^ Faithfull, Mark. "Squishmallows: Going Viral, Warren Buffett And 2022's Must-Have Christmas Toy". Forbes. Retrieved 2024-09-19.
  35. ^ Langsworthy, Billy (2023-08-22). "Bluey, Barbie and Squishmallows among 'License of the Year' finalists at Toy of the Year awards". Brands Untapped. Retrieved 2024-09-19.
  36. ^ Watson, Cole (December 15, 2023). "Kids pick their own Toys of the Year on Zigazoo". Retrieved 2024-09-19.
  37. ^ a b Pelletier, Ashley (2023-11-20). "The Toy Foundation Reveals Toy of the Year and People's Choice Award Winners". The Toy Book. Retrieved 2024-09-19.
  38. ^ "Kelly Toy Cares – Squishmallows". Archived from the original on 2021-10-27. Retrieved 2021-10-27.
  39. ^ Battle, Taylor (2023-09-28). "Jazwares Donates 10,000 Exclusive Squishmallows to Make-A-Wish". The Toy Book. Retrieved 2024-08-16.
  40. ^ "Stockton Kings Announce Giving Through Annual Season of Doing Good". Stockton Kings. Retrieved 2024-08-16.

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