The Squishmallows joined Warren Buffett’s business empire two years after Lady Gaga, Kim Kardashian and others helped make the stuffed animals go viral on TikTok.
For Judd and Laura Zebersky, whose company Jazwares makes the toys, the Squishmallows’ success is far from what they imagined when they met 33 years ago in the University of Miami Law School.
They married in 1993 and pursued a career in law, but Judd Zebersky soon realized that was not his destiny. Four years later, he founded Jazwares, of which he is now CEO.
“I’ve really loved pop culture since I was a kid,” Zebersky said in an interview during the annual shareholder weekend for Buffett’s Berkshire Hathaway in Omaha, Nebraska, this month.
“I liked comics and toys, and I’m also an artist, not a very good one,” he said. “I looked at my wife and said, ‘I want to make toys.’ She said, ‘Follow your dreams,’ and I did.”
Laura Zebersky, an attorney, sold her firm in 2005 and joined it, becoming president of Jazwares.
Jazware’s sales exceeded $1 billion in 2021. About 40% came from Squishmallows as the number sold surpassed 100 million, and the rest from in-house and licensed brands including Fortnite, Pokemon, and Star Wars.
Berkshire bought Jazwares’ parent company, Alleghany insurance holding company, for $11.5 billion in October last year. He has not spoken about Jazwares business performance since.
“Jazwares is a gem,” Buffett said in an emailed statement. “And Judd and Laura are ideal managers at Berkshire.”
Source: Terra
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