Schwartz: OYO Sportstoys — The Mighty Mini Collectibles
By Peter Schwartz
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A few years ago, OYO Sportstoys founder and CEO Tom Skripps took his sons to a Red Sox game at Fenway Park, and they paid a visit to the team store to do a little shopping. The kids didn't want a T-shirt, cap or a piece of autographed memorabilia.
They simply wanted a toy. But the stark reality was that there was nothing age-appropriate.
And that's how the OYO minifigures were born.
Skripps' groundbreaking company was created in 2011 and his products debuted at the World Series that year. The OYO minifigure is the first building-block toy bearing likenesses of players from MLB, NFL and NHL.
The company also has deals with about 50 colleges and universities, and it is getting ready to introduce soccer minifigures after coming to an agreement with MLS.
"Major League Baseball was their first license," said Shari Fabiani, OYO's senior vice president of marketing. "He went to talk to them. It was something that nobody else had and that nobody else could do."
OYO creates and designs their products at the company's headquarters in Acton, Massachusetts. Because the company is based in the United States, OYO is able to create new products quickly and get them on the market. For example, if a player gets traded to another team, OYO is able to make a figure of the player in his new uniform and have that shipped out in a couple of days.
The figures have real-life characteristics: bendable knees, rotating forearms and the ability to hold a bat, stick or ball. This was something previously impossible for building-block minifigures.
You can see and order all of the OYO minifigures at the company's website, OYOSports.com. You can also see another clever marketing tool that the company uses -- "OYOs In Action," a series of stop-motion videos where the minifigures come to life, including the top 10 moments in Derek Jeter's career.
The retired Yankees captain has been a huge seller for OYO. The company has created 24 different versions of No. 2 and also released a commemorative piece for his last game in each ballpark, so every MLB team is represented. OYO will also introduce a Jeter set that summarizes his career stats, including hits and runs.
Jeter's popularity has been very important to OYO.
"Incredible, and to be honest it still is," Fabiani said. "It's really exciting. He will be missed by fans, and he'll be missed by us as well because he has been a big seller and his team has been a great partner to work with as well."
While Jeter was popular throughout his career, Broncos quarterback Peyton Manning remains popular among football fans. In fact, Manning is another example of how OYO has been successful in the marketplace.
Since they are able to turn new products around quickly, they were able to take advance of Manning's record-setting 509th touchdown pass earlier this season.
After Manning's historic touchdown strike, OYO released a Manning figure celebrating No. 509 in a box that also included a Colts jersey.
OYO, as a fan engagement company, simply gives its customers what they want.
"That's through adding new players, adding deeper rosters, and being able to capitalize on hot market opportunities such as drafts, when the Kings won the Stanley Cup or when players get traded," Fabiani said.
Hockey mini-figures are also a big part of OYO's business. Local players available include Rick Nash, John Tavares and Patrick Elias. There are also team sets and Zamboni machines. However, there is one type of figure that OYO has not been able to offer hockey fans -- but that is about to change.
"A much-anticipated product that people have been clamoring for are goalies," Fabiani said. "Goalies will be launching in November."
The minifigures have a face, two eyes, a nose and a smile. Those features, along with a jersey, equipment and the company's great customer service is a big reason why OYO Sportstoys has exploded into the sports collectible marketplace.
With the holiday season right around the corner, you can be sure that OYO is going to be a very popular gift for kids and sports fans of all ages.
You can follow me on Twitter @pschwartzcbsfan. You can also follow OYO Sportstoys @OyoSports.
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