What could be cuter than a cuddly Squishmallow dressed up for Halloween? There’s Emily, a black bat with fangs peeking through her smile, Maui, a sweet skeleton pineapple, and Pumpkin Cam, the jack-o’ lantern version of the brand’s bestselling kitty.
Squishmallows have become a popular Halloween costume and even a trick-or-treating necessity. Blaze, the purple monster, also doubles as a Halloween bucket.
What are Squishmallows and why are Halloween Squishmallows such a big deal?
Squishmallows are an ultra-soft collectible that’s taken the world by storm. These egg-shaped plush toys are manufactured by Jazwares, and are woven from a unique fabric that’s said to feel like marshmallow — hence its name.
These little critters come in all kinds of sizes. Squishmallows range in size from tiny 3.5” keychains to huggable, two-foot dolls. There are a whopping 1,000 varieties of Squishmallows, each with their own name, charming backstory, and collector number.
Their relatively wallet-friendly prices ($10 to $100+) have made them the must-have toy of the decade. In 2022, Jazwares sold more than 100 million Squishmallows.
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Seasonal Squishmallows’ rollouts send legions of die-hard fans (like Kim Kardashian and Lady Gaga) to buzz excitedly on TikTok each time a new colorful character is introduced. There are Squishmallows for all occasions, but winter holiday and Halloween Squishmallows have their own cult following within the hobby.
Warren Buffett meets the Squishmallows
Squishmallows eventually caught the attention of famed investor Warren Buffett back in 2022. The “Oracle of Omaha” had lamented in a letter to shareholders that his company, Berkshire Hathaway BRK.A, was sitting on $44 billion in cash because “nothing excites us” in the markets. Then he discovered Squishmallows.
Squishmallows’ parent company, Jazwares, is part of a diverse set of business interests that make up Alleghany Corporation Y, a New York-based holding company that also includes insurance, hotels, and heavy industrial manufacturers under its umbrella. In March 2022 Berkshire Hathaway made a $11.6 billion offer to purchase Alleghany and the deal was sealed in October 2022.
Buffett has since admitted that he, too, collects Squishmallows. And to celebrate their acquisition by Berkshire Hathaway, Jazwares even released limited-edition Squishmallows of CEO Warren Buffett and Vice Chairman Charlie Munger.
They had Warren Buffett and Charlie Munger Squishmallows at last week's Berkshire Hathaway meeting and no one told us?? pic.twitter.com/HSvMCYPhGa
— Morning Brew Daily (@mbdailyshow) May 11, 2023
While Jazwares remains privately held, its 2022 sales were estimated to be around $59 million. In interviews, Buffett has called Jazwares “a gem” and Judd and Laura Zebersky, the husband-and-wife team behind Jazwares, the “ideal Berkshire managers.”
The Zeberskys both left jobs in the legal profession to pursue their passion for toys. In addition to Squishmallows, Jazwares also makes popular toy lines for Hasbro HAS as well as the Disney DIS, Star Wars, Marvel, and Pokemon franchises.
But overall, Squishmallows make up an impressive 40% of Jazwares’ total revenues.
Why are Squishmallows so popular?
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Anyone can make a squishy soft toy — savvy marketing is what elevates Squishmallows to greatness. Co-founder Laura Zebersky is known for seeking out nontraditional advertising channels to sell her company’s products, such as on social media and through influencer marketing.
For instance, at the 2022 VidCon, a convention for influencers, Jazwares introduced an immersive experience that invited attendees to step inside a video game “claw machine” where they could take home any Squishmallow that they could grab ahold of.
Another example of Jazwares’ innovative marketing is with its 2023 "‘Mallow Mash", a month-long Halloween celebration that puts Squishmallow’s biggest fans in the spotlight. It also includes interactive Halloween games, behind-the-scenes trivia, and Squishmallow giveaways on the company’s Instagram, TikTok, X, Threads, and Facebook pages under the hashtag #SquishmallowSquad.
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The fact that Squishmallows appeal to both kids and adults is another reason for their enduring popularity. Jazwares has even admitted that the Squishmallows’ biggest buyers are adults 18 and up.
Ironically, the covid-19 pandemic may have been Squishmallows’ biggest boon. Everyone was stuck at home, giving many adults the chance to play with toys again. The cuddly nature of Squishmallows helped ease the feelings of anxiety and isolation that people were experiencing — just hug a Squishmallow and you'll see for yourself!
Where to buy Squishmallows
You can pick up a Squishmallow at nearly every major retailer from CVS to Walmart. But if you’ve got your eyes on a specific squad member, you’d best do your homework before you head out, because stock can change quickly.
Some stores also have exclusive rights to sell certain Squishmallows, which might make collecting them all the more appealing. Jazwares was intentional in selecting a “curated list” of retailers it licensed with, which helped to spur near-obsessive levels of demand.
You can literally feel the difference between an authentic Squishmallow and one of its many knockoff counterparts. Squishmallows have a soft polyester fiber and spandex fabric that is unique to the brand, which also imparts a sense of exclusivity.
Some online retailers, like Amazon AMZN, are so certain of the plush toys' appeal that they have opted to offer specific deals on Squishmallows instead of site-wide holiday sales. Collectors should be sure to keep their eyes peeled.
Finally, Jazwares rolled out some Squishmallows in very limited quantities, so you might be hard-pressed to find them in stores. The rarest Squishmallow is Jack the black cat, a 16” Halloween Squishmallow from 2020. Only 500 were made and they can sell on auction sites today for upwards of $1,500.
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Will Squishmallows be valuable in the future?
Aleksandra Golitsyna; Getty Images
Any object that has personal meaning is valuable, but the rarest Squishmallows have already proven they can command top dollar.
It probably doesn't hurt to have one of the world's best investors backing the brand. After all, he’s amassed a $112 billion fortune by identifying companies trading below their intrinsic value, buying them, and then holding onto them for decades as shares ascend skyward.
Buffett is famous for only investing in companies he believes in that have products he actually uses. He eats breakfast at McDonald’s MCD, drinks Coca-Cola KO, and keeps boxes of See’s Candy Peanut Brittle on hand at shareholder meetings. He believes these products will stand the test of time — and in fact, they have already made him very, very rich.
Buffett’s ownership could be considered his highest mark of confidence in the future of Halloween Squishmallows’ — and any other kind, too.
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