Squishmallows

Squishmallows is a plush-toy brand launched in 2017 by Kelly Toys Holdings LLC and now owned by Jazwares, a Berkshire Hathaway company. Its products are recognizable for their rounded silhouettes, soft textures, embroidered or printed facial features, and character identities presented through hangtags and collection-based merchandising. The range includes animals, foods, fantasy creatures, people, objects, and licensed entertainment characters, with products offered in multiple sizes and formats. The brand was developed under Kelly Toys, a company founded in 1986 by Jonathan Kelly. Kelly has said that an interest in Japanese toy and plush design helped inspire the concept. The development team sought to combine a soft, tactile feel with a cute, simplified aesthetic associated with Japanese kawaii design. Squishmallows initially entered the market through direct sales and retail partnerships, including Walgreens, before expanding through a broad network of mass retailers, specialty stores, pharmacies, entertainment retailers, online marketplaces, and international distributors. A major turning point came during the COVID-19 pandemic. In 2020 and 2021, collectors used TikTok, Instagram, Twitter, and other social platforms to show collections, trade characters, identify retail sightings, and discuss limited releases. This user-generated activity helped transform the product from a conventional plush toy into a highly social collecting category. The brand’s characters, rarity tiers, seasonal releases, retailer exclusives, and event exclusives encouraged repeat purchases and community participation. Some scarce products attracted substantial secondary-market prices, although those prices were set by third-party sellers rather than by the brand. Jazwares entered a strategic relationship with Kelly Toys in 2019, initially in connection with the Russ Berrie brand, and acquired Kelly Toys in 2020. Under Jazwares, Squishmallows expanded its distribution, licensing program, product formats, and international presence. The brand has developed lines such as HugMees, Squish-Doos, Heroes, FlipAMallows, FuzzAMallows, Squish-a-longs, Squisharoys, Squooshems, Squishville, Mystery Squad, Micromallows, and Stackables. Products have ranged from clip-on items of approximately 3.5 inches to large plushes of approximately 24 inches. Squishmallows has also become a major licensing platform. Collaborations have included Hello Kitty, Pokémon, Disney, Star Wars, Marvel, Harry Potter, The Wizard of Oz, SpongeBob SquarePants, The Muppets, Sonic the Hedgehog, Peanuts, Care Bears, Five Nights at Freddy’s, The Lord of the Rings, Wicked, Stranger Things, The Grinch, Wednesday, Peppa Pig, Bluey, and other entertainment properties. Partnerships have extended beyond toys to games, apparel, footwear, food promotions, and retail experiences, including a Monopoly game, McDonald’s Happy Meal toys, and a PUMA apparel and footwear collection. Reference material reports that more than 400 million units in approximately 3,000 styles had been sold by August 2024. The brand is sold in more than 60 countries and remains active across plush toys, collectibles, licensed merchandise, and experiential or promotional partnerships. Its positioning combines comfort, giftability, character storytelling, social collecting, and accessible entry points with occasional scarcity-driven premium demand.

Squishmallows was launched in 2017 by Kelly Toys Holdings LLC, a Los Angeles-based toy company founded in 1986 by Jonathan Kelly. The brand’s design concept was influenced in part by Japanese plush products and kawaii aesthetics. Its creators developed a rounded, highly tactile plush format intended to feel soft and comforting while supporting a large cast of recognizable characters. The first products were sold through the Kelly Toys website and retail partnerships. Walgreens was among the early retail partners, and the brand later expanded into mass merchants, pharmacies, specialty retailers, entertainment stores, department stores, warehouse clubs, and online commerce. Squishmallows are made primarily from soft spandex and polyester fiber filling. Their identity is reinforced by attached authenticity and character tags, while a wide range of sizes supports both impulse purchases and larger collectible displays. Jazwares formed a strategic partnership with Kelly Toys in 2019. The relationship initially involved the Russ Berrie brand, which Jazwares had acquired in 2018. After working with Kelly Toys, Jazwares acquired the company in 2020. The acquisition gave Jazwares control of the Squishmallows brand and enabled broader distribution, licensing, and product development under a larger toy-company platform. Jazwares is part of Berkshire Hathaway. Squishmallows experienced particularly rapid cultural growth during the COVID-19 pandemic in 2020 and 2021. Collectors used TikTok, Instagram, Twitter, and online groups to display collections, exchange information, locate store releases, and trade or resell rare characters. The social-media ecosystem increased awareness and encouraged the perception that some characters, sizes, retailer exclusives, and event releases were collectible. Reference material states that the Squishmallows hashtag had accumulated hundreds of millions of TikTok views by 2023 and that the brand had reached billions of TikTok views and more than one million Instagram tags by May 2024. The company expanded the original plush format into multiple sub-lines, including HugMees, Squish-Doos, Heroes, FlipAMallows, FuzzAMallows, Squish-a-longs, Squisharoys, Squooshems, Squishville, Mystery Squad, Micromallows, and Stackables. Characters have represented animals, foods, fantasy creatures, objects, and licensed media properties. By August 2024, reference material reported more than 400 million units sold across approximately 3,000 styles. Licensing became a central part of the brand’s development. Collaborations have included Hello Kitty, Pokémon, Disney, Star Wars, Marvel, Harry Potter, The Wizard of Oz, SpongeBob SquarePants, The Muppets, Sonic the Hedgehog, Peanuts, Care Bears, Five Nights at Freddy’s, The Lord of the Rings, Wicked, Stranger Things, Elf, The Grinch, Wednesday, Peppa Pig, Ryan’s World, CoComelon, Paw Patrol, Bluey, and other properties. The brand has also participated in cross-category partnerships, including a Squishmallows Monopoly board game, McDonald’s Happy Meal toys, and PUMA footwear and apparel. The collecting economy has generated secondary-market activity. Rare or limited products can sell for prices above their original retail price, depending on scarcity, condition, size, and character demand. A limited-edition Jack the Black Cat release is frequently cited as an example of a highly sought-after product. These resale prices are determined by third-party marketplaces and are not official Squishmallows valuations. The collector community has also experienced disputes involving resellers, trading practices, harassment, and alleged doxxing, although the available reference material does not establish a specific corporate scandal or legal finding. Jazwares has supported charitable initiatives through Jazwares Cares, which focuses on children’s health, wellbeing, education, and play. In 2023, the program donated limited-edition Star Squishmallows through Make-A-Wish chapters and separately partnered with the Stockton Kings on a toy donation. Squishmallows remains an active international brand centered on plush comfort, character storytelling, licensed collaborations, and social collecting.

1. 2024Reported sales exceed 400 million units

   Reference material reported that more than 400 million units in about 3,000 styles had been sold by August 2024.

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2. 2023Make-A-Wish donation

   Jazwares Cares donated 10,000 limited-edition Star Squishmallows to Make-A-Wish chapters in the United States and Canada.

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3. 2023McDonald’s Happy Meal collaboration

   McDonald’s announced a promotion featuring 12 Squishmallows designs as Happy Meal collectibles.

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4. 2022Pokémon collaboration preview

   Squishmallows previewed its Pokémon collaboration at San Diego Comic-Con.

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5. 2021Hello Kitty collaboration

   Squishmallows announced a collaboration with Hello Kitty.

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6. 2020Jazwares acquires Kelly Toys

   Jazwares acquired Kelly Toys, making Squishmallows part of its broader toy portfolio.

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7. 2020Collector-driven online growth accelerates

   The brand gained substantial visibility during the pandemic as collectors shared collections and retail discoveries on social platforms.

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8. 2019Jazwares begins strategic relationship with Kelly Toys

   Jazwares announced a strategic partnership with Kelly Toys connected initially to the Russ Berrie business.

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9. 2017Squishmallows launches

   Kelly Toys launched the Squishmallows plush-toy brand.

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10. 1986Kelly Toys is founded

    Jonathan Kelly founded Kelly Toys Holdings, the company that later developed Squishmallows.

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A soft, character-led collectible plush brand positioned around comfort, cuteness, gifting, social discovery, licensed entertainment, and a broad range of sizes and price points.

• Core SquishmallowsPlush toys2017

  The core line consists of rounded, soft plush characters representing animals, foods, fantasy creatures, people, and objects. Products are offered in multiple sizes and colors, with individual characters supported by names, biographies, tags, and collection-oriented merchandising. The line is the foundation of the brand’s gifting, collecting, and licensed-collaboration businesses.

• MicromallowsMiniature plush

  Micromallows are miniature versions of the brand’s character plushes. Their small scale makes them suitable for collecting, display, portable play, and multi-item purchases. They extend the character system into a lower-size format while preserving the rounded silhouettes and soft construction associated with Squishmallows.

• Squish-a-longsCollectible plush accessories

  Squish-a-longs are compact Squishmallows formats designed for portability and attachment to personal items. They build on the brand’s character and collecting model in an accessory-oriented format rather than the traditional standalone plush size.

• FlipAMallowsTransformable plush

  FlipAMallows are reversible or transformable plush products that present more than one character or visual configuration. The format adds interactive play and display variety to the soft-plush proposition.

• FuzzAMallowsTextured plush

  FuzzAMallows use a fuzzier tactile treatment within the Squishmallows character system. They provide texture variation while retaining the brand’s soft, rounded design language.

• HugMeesPlush toys

  HugMees are elongated or differently proportioned plush interpretations of Squishmallows characters. They emphasize hugging and physical comfort while extending the range beyond the standard round form.

• SquishvilleMiniature playsets

  Squishville develops the brand into miniature play environments and collectible play formats. It allows characters to be combined with settings, accessories, and playset-style products rather than collected only as individual plush toys.

• Licensed SquishmallowsLicensed plush toys2021

  Licensed products reinterpret characters from entertainment and consumer brands through the Squishmallows format. Notable properties have included Hello Kitty, Pokémon, Disney, Star Wars, Marvel, Harry Potter, Peanuts, Care Bears, Sonic the Hedgehog, and numerous film, television, game, and children’s brands.

• 2024Squishmallows x PUMA

  International

  Selected Squishmallows characters were adapted into PUMA footwear and apparel sold through retail locations and PUMA’s website.

  Outcome. Expanded the brand into fashion and footwear.

  Source
• 2023Squishmallows x McDonald’s

  United States

  The promotion offered 12 Squishmallows designs as Happy Meal collectibles, including a special Grimace design.

  Outcome. Extended brand reach through a mass food-service promotion.

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• 2022Squishmallows x Pokémon

  United States · International

  The Pokémon collaboration was previewed at San Diego Comic-Con and subsequently developed into commercial character plush releases.

  Outcome. Connected Squishmallows with a major global game and entertainment franchise.

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• 2021Squishmallows x Hello Kitty

  International

  A licensed collaboration combined Squishmallows’ plush format with Hello Kitty and related Sanrio character recognition.

  Outcome. Expanded the brand’s licensed character portfolio.

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• 2020Collector-led social media community

  United States · International

  During the pandemic, collectors promoted the brand organically through collection tours, retail sightings, trades, and character discussions on TikTok, Instagram, Twitter, and online communities.

  Outcome. Substantial growth in awareness, collecting activity, and social engagement.

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• 2023Extension into mass promotional channelsStrategy

  The established character system provided a basis for short-run and promotional products outside conventional toy retail.

  What changed. Squishmallows partnered with McDonald’s for a 12-character Happy Meal promotion.

  Aftermath. The collaboration increased consumer exposure and introduced the brand to a broad family audience through food-service distribution.

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• 2021Expansion through major licensed collaborationsProduct launch

  Following Jazwares’ acquisition of Kelly Toys, Squishmallows pursued larger licensing opportunities to extend its character universe.

  What changed. The brand announced a Hello Kitty collaboration and continued developing entertainment and consumer-brand partnerships.

  Aftermath. Licensing became an important route for international visibility and collector demand.

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• 2020Jazwares acquires Kelly ToysM&A

  Jazwares had worked with Kelly Toys through a strategic relationship beginning in 2019 and then pursued ownership of the company and its brands.

  What changed. Jazwares acquired Kelly Toys and incorporated Squishmallows into its portfolio.

  Aftermath. The transaction supported broader distribution, licensing, and product expansion for Squishmallows.

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• 2024Squishmallows collaborates with PUMA

  A PUMA collaboration adapted selected Squishmallows characters into footwear and apparel sold through retail and PUMA channels.

  CampaignProduct launch
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• 2023Squishmallows donates limited-edition toys through Make-A-Wish

  Jazwares Cares donated 10,000 limited-edition Star Squishmallows to Make-A-Wish chapters in the United States and Canada.

  Campaign
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• 2023Squishmallows partners with McDonald’s for Happy Meal promotion

  McDonald’s announced a promotion featuring 12 Squishmallows designs as collectible Happy Meal toys, including a Grimace version.

  CampaignProduct launch
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• 2023Jazwares Cares and Stockton Kings donate toys to local families

  A partnership donated 1,700 toys to families in the Stockton area.

  Campaign
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• 2022Pokémon Squishmallows previewed at San Diego Comic-Con

  The Pokémon collaboration was previewed at San Diego Comic-Con before its commercial launch.

  Product launchCampaign
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• 2021Hello Kitty collaboration announced

  Squishmallows and Hello Kitty entered a licensed collaboration that expanded the brand’s character and collector appeal.

  CampaignProduct launch
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• 2020Jazwares acquires Kelly Toys

  Jazwares acquired Kelly Toys after a strategic relationship that began in 2019, bringing Squishmallows into the Jazwares portfolio.

  M&A
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1. Squishmallows
2. Jazwares