In a world of artificial intelligence, machine learning, virtual reality and augmented reality, a Warren Buffet favorite continues to be a Christmas must-have and for the first time has entered into a deal with global fashion brand H&M.
Jazwares, the maker of the popular Squishmallows brand, is collaborating with H&M to launch a collection of apparel and accessories. The capsule collection became available online on December 7 and will go into the Swedish retailer’s stores globally just before Christmas on December 21.
But just why has a range of egg-shaped cuddly toys made from a super-soft stretchy material – known as plush or plushies – become such a hit in an age of amazing digital products and why did billionaire Warren Buffett give them out at his annual event this year?
The cuddly plushies have quickly become one of the most popular toys on the market, counting celebritiess like Kim Kardashian, Lady Gaga and Charli D’Amelio as fans, with more than 100 million of the toys sold worldwide last year and cerayin to be among the hottest Christmas toys.
They were originally designed by Sunny Cho, who worked for toy maker KellyToys, and the first official Squishmallows collection was released in 2017 and comprised eight different characters: Cam the Cat, Wendy the Frog, Fifi the Fox, Hans the Hedgehog, Piper and Puff the Penguins, and Hoot and Holly the Owls.
In 2019 the toy maker Jazwares bought KellyToys, and decided to widen distribution of the cuddly toys, previously only available at entertainment venues and selected stores. The popularity of Squishmallows really started to take off during the pandemic in 2020, when people began sharing their collections on social media, and said that hugging the toys helped them to feel calmer and less anxious.
Now there are more than 1,000 different Squishmallows designs sold in 50 countries around the world, and over the last year owner Jazwares has been focused on evolving Squishmallows as a lifestyle brand with partners across fashion, gaming, and lifestyle categories, adding to its portfolio of more than 70 licensees.
Warren Buffet And SquishMallows
Berkshire HathawayBRK.B, the legendary holding company led by Chair and CEO Warren E. Buffett, got into the toy business earlier in 2022 through its $11.6 billion acquisition of Alleghany Corp. While Alleghany is best known for its holdings in the insurance business, its subsidiary, Alleghany Capital Corp., operates a diverse portfolio across non-financial industries, including Jazwares.
Not only are there now Squishmallows of Buffett and his Vice Hair Charlie Munger, but Buffett gave the toys out to attendees during the company’s annual gathering earlier this year.
This is the first collaboration between H&M and Squishmallows and the 42-piece collection for kids and tweens includes slippers, pyjamas, t-shirts, dresses, ear muffs, hoodies, and other items, which “incorporate the personalities of the Squishmallows”. Unique to the H&M collection is Rodry, a yellow-bearded dragon Squishmallows plush.
“Partnering with H&M, a global force in fashion, allows us to authentically translate the world of Squishmallows into stylish apparel and accessories,” said Sam Ferguson, Senior Vice President of Licensing, Jazwares. “We are steadfast in our vision to expand Squishmallows into a full 360-degree lifestyle brand and are eager for fans to add this epic collection to their wardrobes.”
On November 20 Squishmallows by Jazwares and the Monster High Skullector Line by Mattel Inc. took home the Toy of the Year (TOTY) Awards’ Toy of the Year and People’s Choice awards, respectively. Squishmallows has earned the Toy of the Year recognition for three years in a row.
