Licensed toy company Oyo Sports, known for its athlete figurines since launching in '11, today begins a company transition with the installation of Scott Healy, whose aim is to develop digital "toys-to-life" products to complement the company’s still-growing physical offerings, as President & CEO. Healy, who replaces company Founder Tom Skripps in the top spot, said the company looks to now move forward with a vision of being a "much bigger and broader brand at the intersection of sports and products and games for kids." Healy is targeting '17 for the release of physical-digital products, which he compared to current toys-to-life offerings like Skylanders, but specifically aimed at avid sports fans. Healy: "I really believe there’s a void in the market for a brand that owns that positioning as the sports fan brand for kids." He also noted the company’s annual revenues are "well into the double digit millions," indicating that there remains "huge demand" for Oyo’s current offerings.
A SLAM DUNK: On the licensing front, the brand’s top priority is striking a deal with the NBA in order to fill what Healy called a "clear hole in the product line." Oyo Senior VP/Product & Marketing Shari Fabiani added that discussions with the league are ongoing. Fabiani: "We don’t see this as an 'if it will happen,' it’s more of a 'when.'" Oyo also sees European soccer as a major licensing opportunity, one that would allow the brand to establish a significant presence overseas. Healy did acknowledge that there are challenges associated with international expansion. He mentioned Oyo’s current competitive advantage in being able to quickly produce and bring to market figurines of breakout athletes or those who have recently changed teams. Healy: "The just-in-time nature is harder to make happen when you’re shipping product across oceans and things like that."
ICE, ICE BABY: Oyo’s short-term product launch plans include this month’s release of NHL Gametime Rinks, the company’s largest and most expensive offering yet. The 681-piece buildable play set, available for all 30 teams, includes intricacies such as swinging Zamboni doors, penalty boxes, benches and even rotating in-goal cameras. The rinks retail for about $150, significantly more than most of the company's less-sophisticated sets, which fall in the $20-40 range. Individual figurines retail at $10-15 and can be purchased at in-stadium stores, toy stores, sporting goods outlets and some big-box retailers like Target. Other Q4 product release plans include special-edition offerings around the World Series, NHL Winter Classic, CFP, MLS Cup and Super Bowl 50.
READY FOR THE ROLE: Healy, introduced as CEO this morning, spent the past eight years as Care.com Exec VP & GM, helping lead the company from its early stages to an IPO last year. While Skripps is stepping down as CEO, he will remain on the Oyo BOD.
