05/14/2025
by Victoria Ritter
For Steven Irigoyen, president of Odyssey Toys, play is a crucial part of the learning journey. The multi-generational family company seeks to provide joy and fun to people of all ages and learning stages.
Irigoyen’s dad, Sal, founded the company in 1995. Then known as Odyssey Marketing, the business sold to HSN and dealt in consumer electronics such as TVs, sound systems, DJ equipment and lighting. On one of his regular trips to China, one of Sal’s buyers asked him to find toys. He brought back remote-control toy cars which sold very well. Sal saw the potential of toy sales and added them to his inventory.
Around 2010, Odyssey Marketing attended its first Toy Fair, showcasing remote-controlled toys. Odyssey Marketing became Odyssey Toys, signifying its shifting focus to toys.
The transition came at an opportune time. By the second and third year of exhibiting at Toy Fair, drone technology had become more prevalent in the toy industry. Odyssey Toys gained more recognition. “We were on the front end of it,” Irigoyen said. “We had some of the first drones in our booth.”
Ever innovating
Odyssey Toys has since branched out to include a range of animatronic plush, electronic and hand-held games as well as DIY kits. Today, the company has a catalog of around 100 SKUs, 70 of which are in their own line, and 20 to 30 from other brands.
“At the end of the day, we wanted to cater to more demographics,” Irigoyen said. “We’re still expanding, still innovating and thinking of new brands that will target a new audience.”
When developing new toys and games, the Odyssey Toys team put themselves in the shoes of parents and consider a myriad of factors. The first aspect is playability. Odyssey Toys’ products have STEM elements (some even have STEAM accreditation), hone hand-eye coordination and an educational aspect. Irigoyen doesn’t want products to be a one-and-done experience, but something that encourages users to play with over and over again with their friends and family.
“All of our stuff is easy to use, but sometimes it takes a little practice and skill to master it – especially our drones,” Irigoyen stated. “And once you’re great at it, the experience becomes that much better.”
Conception is another major part of toy development. Irigoyen wants customers to understand the toy and what it does when they see it on shelves. In the brief time a potential buyer considers a product, the packaging’s messaging is a crucial influencer. “A really great product cannot always get the recognition it deserves because people don’t understand what it is,” Irigoyen said.
Pricing is crucial. Odyssey Toys balances the cost of the product with the value it provides to the end consumer. Especially in today’s market, the company is price-sensitive as they work to understand how much people are willing to pay for toys and games. “It’s important to be able to give value products for value pricing,” Irigoyen commented.
Odyssey Toys typically releases five to seven new products each year. Last year’s bestseller was the Space Shuttle Discovery drone, licensed with the Smithsonian. “Theres’s no other flying Space Shuttle Discovery out there – other than the actual space shuttle,” Irigoyen said. Odyssey Toys is developing a new iteration of the shuttle drone with NASA astronaut Greg Chamitoff who flew on the Discovery.
New to the market this year is Buddy Trucks, a two-in-one remote-control toy with a pulley and excavator. “It’s a really fun with a lot of playability,” commented Irigoyen. “Having two toys in one is a big deal.” Buddy Trucks is an Astra Play Award finalist this year.
Lasting relationships
Business at Odyssey Toys is going fairly well. Irigoyen has seen how the economy took a hit with the recent tariffs. He explained how toy companies have small profit margins that could get eaten up by tariffs. “We hope it’s a storm that everyone will be able to withstand and that things are going to get figured out sooner than later, because it affects everybody.”
Nevertheless, exciting things are coming for Odyssey Toys. They are looking to work with new licensing partners and are in talks with another toy company for a potential merger in the next few months. “We’ll potentially be a one-stop shop where you can get a huge assortment of fun toys from us along with this new company’s offerings,” Irigoyen said. “It could be something that stirs up the industry.”
Looking back on 30 years of business – including 15 in the specialty toy industry – Irigoyen credits Odyssey Toys’ longevity to sticking to core values, maintaining relationships and dedication to innovation. “Every single one of our customers are important – big or small,” he said. “That’s the biggest lesson that my father bestowed to us.”
Small, independent retailers are especially vital. Irigoyen explained how specialty toy stores were among Odyssey Toys’ first customers, offering their advice and inputs about products while the manufacturer gained their loyalty and support.
“We personally love the little guys,” Irigoyen added. “After all, we’re a small, family-owned business, too.”
Irigoyen is honored that retailers look to Odyssey Toys for innovative and fun products. He enjoys working in the toy industry and attending shows including the Museum Store Association show, Astra Marketplace & Academy, Toy Fair, ToyFest and various gift markets. The hard work is balanced with the relationships forged in the toy market.
“We all try to look out for each other, and I think that’s important – not only in this industry but in this world,” Irigoyen stated. “Being able to fulfill the needs of kids and doing it with your peers is fulfilling.”
