Today, the representatives of Icelandic Group ehf. (ehf. =
private limited company) turned over ownership of the brands Icelandic
and Icelandic Seafood to Prime Minister Katrín Jakobsdóttir, as a representative
of the Icelandic nation. Finance Minister Bjarni Benediktsson and Foreign
Affairs Minister Gudlaugur Thór Thórðarson were also present at the ceremony in
the Culture House, Hverfisgata (Reykjavík). The above brands
are under the ownership of Icelandic Trademark Holding ehf., which manages
their registration, protection and utilisation, and ensures that they are used
in relation to the marketing and selling of Icelandic products and services.
The objective is that these brands will be used in the best possible way towards
serving more Icelandic business on a broad basis into the future.
Icelandic Trademark Holding (ITH),
which manages the Icelandic brands and business with them, is virtually the
only asset of Icelandic Group ehf. By turning over every share in ITH to the
Icelandic State Treasury, actual operation of Icelandic Group ehf is suspended. The present idea is for Icelandic firms to have the possibility of
cooperating with ITH for the purpose of promoting under the Icelandic brand
those products and services which can further support the image of high-quality
Icelandic products and services, with sustainability in mind. The plan is that
ITH operation will be strengthened even further in the cooperation between the
Icelandic Government and Icelandic busineses in all fields. Presently,
ITH has licensing agreements with the Icelandic company Margildi ehf., the
Canadian company High Liner Foods, and Solo Seafood, which owns the Spanish
company Ibérica. In the near future, Margildi will begin promoting a new
product under the Icelandic brand in the USA.
The parent
company of Icelandic Group ehf., Iceland Enterprise Investment Fund ehf. (EIF),
recently concluded its operations. During its operating years, EIF invested in
nine companies and thereby gained total profits of about ISK 47 billion for EIF
shareholders, amounting to an annual internal rate of return of 22.6%.
In his address as
EIF board chair, Thorkell Sigurlaugsson noted the success of fund operations and
expressed his hope that the brands Icelandic and Icelandic Seafood
would be able to grow and prosper, for the good of the nation as a whole.
Prime Minister
Katrín Jakobsdóttir, who also addressed the guests at the Culture House,
described the Icelandic Group’s gift as generous due to the tremendous value associated
with the brand. She added: "It is important to continue to nurture this
brand, as well as increasing and boosting the positive image of Icelandic
products, no matter whether they are in the form of goods, services or
Icelandic culture. Icelandic authorities will now have the role of tending to
this asset and ensuring that it remains an everlasting possession of the Icelandic
State."
Speaking at the
day's Culture House ceremony, Herdís Fjeldsted stated as board chair of Icelandic
Group and outgoing CEO of the EIF:
"It is with great satisfaction that I turn over these valuable brands to
the Icelandic nation on the centennial anniversary of Icelandic sovereignty. By doing this, Icelandic businesses will be able to link
themselves to their origin and benefit from the country's positive image, so that Icelandic will serve to increase
export value and thus shore up the economic foundations of this society over
the long term."
Sara Lind
Thrúdardóttir, Managing Director of ITH, mentioned in her speech at the Culture
House that great opportunities were available to Icelandic business through collaborating
on marketing and promotion work overseas under the Icelandic banner,
since Iceland's image was connected to purity and exceptional beauty.
Further information can be provided by:
Thorkell Sigurlaugsson, board
chair of the Iceland Enterprise Investment Fund, Tel. +354 620 6222, and Sara Lind Thrúdardóttir, Managing
Director of Icelandic Trademark Holding, Tel. +354 852 8804.
More information on the Iceland Enterprise Investment Fund is available at: framtakssjodur.is and on the brands at: www.icelandic.is.
