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Squishmallows

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Squishmallow is a brand of stuffed toy that was launched in 2017 by Kelly Toys Holdings LLC. Squishmallows are round and come in a variety of colors, sizes, animals, and textures. The brand has created over 1,000 Squishmallows characters with unique names and background stories.[1][2] Depending on the size and store, prices can range between $3-$50, but rarer collections are often priced higher. They were in high demand in quarantine in 2020. Squishmalllows can be found at Dollar Tree, CVS, and other retail locations.

A small collection of Squishmallows plushes.

History

Founders

Kelly Toys Holdings, headquartered in Los Angeles, California, was founded in 1986 by Jonathan Kelly.[3] 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.[4] After collaborating for one year, Kelly Toys Holdings was acquired by Jazwares Inc, a privately owned company, in 2018.[5] Thus, Kelly Toys Holdings expanded its position in the market for toys and obtained opportunities to get further licenses for the brand. Kelly Toys Holdings was Jazwares’ second acquisition following their acquisition of Wicked Cool Toys.[6]

Popularity

Squishmallows first gained success during the COVID-19 pandemic in 2020 through social media outlets, like TikTok, where Squishmallow collectors would post about their plush toy collections. The TikTok hashtag #Squishmallows has gained over 550 million views. Squishmallows has acquired nearly 100,000 followers on Twitter[7] and nearly 500,000 followers on Instagram. Almost 2 years after launching Squishmallows, Kelly Toys Holdings has sold over 50 million units.[8]

The company has also linked with Monopoly and created a monopoly board involving purchasing Squishmallows instead of properties.[9] The game also includes a special version of Cam the Cat which can only be found in this game.[10]

Product

Materials

Squishmallows are made from soft spandex and filled with polyester fiber.[11] As mentioned by Squishmallows on their Twitter account, they are manufactured in China.[12] 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.[13] Squishmallows shouldn't be submerged, as it affects the fabric and stuffing of the pillow. Spot cleaning with a stain-removing pen or a wet washcloth is recommended.[14] Following this, the drying temperature should not be too hot to avoid damaging the polyester filling. Authentic Squishmallows can be identified by their three attached tags. Squishmallows have also extended their line to include HugMees, Squish-Doos, Heroes, Flip-A-Mallows, Squishville, Mystery Squad, Micromallows, and Stackables.[15]

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, Walgreens, CVS, Kroger, Hot Topic, London Drugs, Five Below, GameStop, Walmart, Hamrick's, and more. The higher-priced and more high-end Squishmallows are sold at Hallmark while the more cost-efficient Squishmallows are typically found at Costco, Target, and Walmart. Squishmallows are sold in Canada, Mexico, the United States, the United Kingdom, and Australia. [16]

Pricing and collectability

Due to the demand for the toy, Squishmallows are often sold by resellers for an increased price. The average resell price for a Squishmallow depends on the size, condition, and rarity of the specific item. 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.[17] Third-party websites like eBay host listings for Jack the Black Cat valued at nearly $2,000.[18] Among the many Squishmallows that are sold, some of the most popular include Connor the Cow, Malcolm the Mushroom, Archie the Axolotl, and Philippe the Frog. There are reports that resellers are harassed and doxxed by the community.[19]

Event-exclusive Squishmallows

Event-exclusive Squishmallows are Squishmallows that are only awarded as prizes in the events such as Select Series: Lamont Sweepstakes[20] or Trading Card Sweepstakes.[21] 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.[22]

Charity work

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.”[23] They also want to support any charitable organizations around the world with the same mission and spread awareness regarding mental health.

Awards

Award Name Year Description
National Parenting Product Awards (NAPPA) 2017 Squishmallows has won the 2017 National Parenting Product Awards through competitive selection.[24] The NAPPA showcases the best products that help parents connect with their families. To qualify, products are tested by a panel of both expert judges and family testers. [25]
National Parenting Product Awards (NAPPA) 2018 Squishmallows’ Baby line has won a 2018 National Parenting Product Award and the Baby line was highly regarded by NAPPA Director Elena Epstein.[26]
Best Toy of The Year by Learning Express 2020 Every year, Learning Express selects a toy that performs the best in their 100 stores through a variety of categories including creativity, games, crafts, etc.[27] The 2020 Best Toy of the Year recognized by Learning Express Toys, a specialty retailer company, was Squishmallows.[28]
Toy of the Year Award & People's Choice Award by The Toy Foundation 2022 Squishmallows won the February 2022 Toy of the Year Award and the People's Choice Award during the Toy of the Year Awards ceremony. Toy of the Year (TOTY) Awards, known as the "Oscars" of the toy industry, the TOTY Awards are presented annually to the top toys, games, and properties of the year.[29] The TOTY Award winner was determined by an expert panel based on TOTY votes, holiday sales, and media buzz out of all the finalists. The People's Choice award winners were selected by online consumer votes.[30]

References

  1. ^ Lorenz, Taylor (2021-03-16). "Squishmallows Are Taking Over". The New York Times. ISSN 0362-4331. Retrieved 2021-10-27.
  2. ^ "About Squishmallows". Squishmallows. Retrieved 2022-05-17.
  3. ^ Equity Research, Zacks. "Alleghany's Unit Closes Buyout of Squishmallows Owner Kellytoy".{{cite web}}: CS1 maint: url-status (link)
  4. ^ "Squishmallow creator on rising popularity, department store deals". www.yahoo.com. Retrieved 2021-10-27.
  5. ^ "Jazwares acquires Kellytoy". aNb Media, Inc. 2020-04-02. Retrieved 2021-10-27.
  6. ^ Equity Research, Zacks. "Alleghany's Unit Closes Buyout of Squishmallows Owner Kellytoy".{{cite web}}: CS1 maint: url-status (link)
  7. ^ Haasch, Palmer. "Squishmallows went viral in 2020 and are quickly becoming Gen Z's Beanie Babies". Insider. Retrieved 2021-10-27.
  8. ^ "TFNY: Kellytoy Celebrates 50 Million Squishmallows Sold • The Toy Book". The Toy Book. 2020-02-11. Retrieved 2021-10-27.
  9. ^ "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.
  10. ^ Sheehan, Gavin (2022-11-10). "Squishmallows Receives Its Own Monopoly Game". Bleeding Cool News And Rumors. Retrieved 2022-12-23.
  11. ^ Terri Peters. "What are Squishmallows? What parents should know about the hot toys". TODAY.com. Retrieved 2021-10-27.
  12. ^ 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.
  13. ^ "Squishmallows". See Mom Click. 2021-06-11. Retrieved 2021-10-27.
  14. ^ "About Squishmallows". Squishmallows. Retrieved 2022-05-17.
  15. ^ "Super Soft Plush Toys". Squishmallows. Retrieved 2022-02-17.
  16. ^ "Retailers – Squishmallows". Retrieved 2021-10-27.
  17. ^ Goodley, Alvin (2021-09-27). "8 of the Rarest and Most Expensive Squishmallows Ever Sold". Rarest.org. Retrieved 2021-11-01.
  18. ^ "Kellytoy Introduces the 500th Member of the Squishmallows Squad [UPDATED] • The Toy Book". The Toy Book. 2020-09-01. Retrieved 2021-11-01.
  19. ^ Lucas, Jessica. "Squishmallows are adorable, but their online fandom has a dark side". Input. Retrieved 2022-05-03.
  20. ^ "Select Series Sweeps". Squishmallows. Retrieved 2022-07-01.
  21. ^ "Sweeps". Squishmallows. Retrieved 2022-07-01.
  22. ^ Lyons, Eric. "The 10 Rarest and Most Expensive Squishmallows Ever Sold". TheMostExpensive.org. Retrieved 2022-07-01.
  23. ^ "Kelly Toy Cares – Squishmallows". Retrieved 2021-10-27.
  24. ^ "Squishmallows Wins a NAPPA Award! – Squishmallows". Retrieved 2023-01-08.
  25. ^ "Squishmallows™ Plush Line Wins 2017 NAPPA Award". Gifts & Decorative Accessories. Retrieved 2023-01-08.
  26. ^ "Oh Baby! Squishmallows Baby Line Brings Home a Win". Squishmallows. Retrieved 2022-07-01.
  27. ^ "Squishmallows Named 2020 Best Toy of the Year by Learning Express". Gifts & Decorative Accessories. 2020-10-07. Retrieved 2021-10-29.
  28. ^ "Squishmallows Named 2020 Best Toy of the Year by Learning Express". aNb Media, Inc. 2020-10-09. Retrieved 2021-10-29.
  29. ^ "Toy of the Year Awards". The Toy Association. Retrieved 2022-05-21.
  30. ^ "Toy Foundation Announces 2022 Toy of The Year Award Winners". finance.yahoo.com. Retrieved 2022-05-21.
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