British toybrand Jellycat, loved by Gen Z globally, more than doubled its profit in 2024 on the back of a "kidult" driven craze for toys as more adults turn to soft toys for comfort.

Jellycat, a private company founded by Thomas Gatacre in London in 1999, is popular for selling huggable soft toys from its £18 ($24) Bashful Beige Bunny to its £275 Amuseables Nordic Spruce Christmas Tree. The firm saw "rapid growth" in 2024, according to financial reports shared with CNBC.

The company, owned by Jelly Holdings, saw revenue rise 66% to £333 million ($449 million) for the year ending December 31, up from £200 million in 2023. Its profit before tax more than doubled to £139 million, up from £67 million the prior year. It's planning to pay dividends of £110 million to its owners.

The toymaker

See Full Page