The company said her leadership is personified in her commitment to innovation and detail, from initial concept through final design and to outstanding customer service.
"Susan brought a much-needed woman's perspective to the adult toy industry," said Al Bloom, director of marketing.
"But it's much more than that. Her keen vision for where we are — and where we're going — is unmatched. XBIZ could not have selected a more deserving recipient for the first Novelty Pioneer award."
The company said that under Colvin's leadership, the 17-year-old company has emerged as leader in adult novelties, with a catalog of more than 3,000 products and exclusive lines such as Jopen and Intimate Basics.
"Watching Susan navigate the changing waters of our business is an inspiration," said Jackie White, CalExotics vice president of sales.
"She's always several steps ahead and always pushing for the next advancement in technology. She’s constantly advocating to bring our customers the best."
Reacting to news of the award, Colvin said, "At CalExotics, we really believe in what we do: making quality products that enhance people's lives. As attitudes toward sex and pleasure have evolved, it has become more rewarding than ever.
“I'm honored to be recognized with the Pioneer Award and thankful to all of the customers and colleagues who have been with me along the way."