INTERVIEW
Magnús Magnússon, CEO and Creative Director at Peel
As CEO and co-founder of Peel Advertising, Magnús Magnússonhas built an agency that does things differently. Peel works like a creative hub, pulling in the right experts when needed. This setup has helped them land major work, including award-winning international campaigns for Visit Iceland.
In this interview, he reflects on what it means to brand a country, why he named his agency Peel, and goes behind the scenes of his creative process.
In this interview, he reflects on what it means to brand a country, why he named his agency Peel, and goes behind the scenes of his creative process.
Magnús Magnússon, CEO at Peel Advertising Agency. Image: Magnús Magnússon
I’m intrigued by your company name. What does it mean?
When we created Peel in 2018, we wanted to say we wanted to peel through the bullshit to the core of the brand. Similar to peeling an onion. We avoid the 'theatrics' of larger agencies.
How do you work as an advertising agency in Iceland?
We've wanted to be a small agency from the start. Traditionally, the Icelandic way is growing a company from within. We bring in the best experts in Iceland, as needed, rather than having all expertise in-house.
Flexibility is essential: we’re talking about 350,000 people if you’re not running international campaigns.
We always wanted to be international, and our strength was understanding Iceland. The market here is so different from the rest of the world. When a new expert comes in and tries to apply global methods, it doesn’t fit.
When we launched Peel in 2018, we believed, naively, that we could collaborate with all the Icelandic ad agencies. But Iceland is such a small country, and the pool of clients is so small, that agencies have been protective.
Clients, particularly in the US, find our small agency structure interesting, because they have specific teams for strategy, for example. I’m the CEO of Peel, plus I do project management and strategy. So I’m in a lot of those meetings.
Our setup proved ideal for the 2020 Visit Iceland tender. We understood that no Icelandic agency could run the Visit Iceland account without a global partner because we are a small island and we need to allow the expertise from abroad to help us in a way.
We ended up working with two global agencies, one of them M+C Saatchi.
When we created Peel in 2018, we wanted to say we wanted to peel through the bullshit to the core of the brand. Similar to peeling an onion. We avoid the 'theatrics' of larger agencies.
How do you work as an advertising agency in Iceland?
We've wanted to be a small agency from the start. Traditionally, the Icelandic way is growing a company from within. We bring in the best experts in Iceland, as needed, rather than having all expertise in-house.
Flexibility is essential: we’re talking about 350,000 people if you’re not running international campaigns.
We always wanted to be international, and our strength was understanding Iceland. The market here is so different from the rest of the world. When a new expert comes in and tries to apply global methods, it doesn’t fit.
When we launched Peel in 2018, we believed, naively, that we could collaborate with all the Icelandic ad agencies. But Iceland is such a small country, and the pool of clients is so small, that agencies have been protective.
Clients, particularly in the US, find our small agency structure interesting, because they have specific teams for strategy, for example. I’m the CEO of Peel, plus I do project management and strategy. So I’m in a lot of those meetings.
Our setup proved ideal for the 2020 Visit Iceland tender. We understood that no Icelandic agency could run the Visit Iceland account without a global partner because we are a small island and we need to allow the expertise from abroad to help us in a way.
We ended up working with two global agencies, one of them M+C Saatchi.
ward-winning campaigns: When local insights meet global creativity. Image: Peel
Did you just ring the front desk and get the CEO of Saatchi on the phone?
Daniel Bremmer, a creative director we knew from our old jobs at Íslenska ad agency, helped us connect.
I don’t think this would’ve happened unless COVID happened. Because they were really keen on finding new opportunities. We clicked right away. We were able to talk to big bosses right away.
They appreciate Iceland's production capabilities, and we value their brand strategy and creative input for international campaigns.
Working with team members across multiple time zones in New York, California, and Australia, was crazy, because I was in meetings with all of them. I’ve never worked that hard before. I also had my first child around that time, so I don’t remember much from those days.
Daniel Bremmer, a creative director we knew from our old jobs at Íslenska ad agency, helped us connect.
I don’t think this would’ve happened unless COVID happened. Because they were really keen on finding new opportunities. We clicked right away. We were able to talk to big bosses right away.
They appreciate Iceland's production capabilities, and we value their brand strategy and creative input for international campaigns.
Working with team members across multiple time zones in New York, California, and Australia, was crazy, because I was in meetings with all of them. I’ve never worked that hard before. I also had my first child around that time, so I don’t remember much from those days.
You’re probably most famous for country branding. What’s the difference between branding a company and a country?
A country is not a typical company. It’s way harder to find the essence of a country. You need to find the right tone. You can’t make it something it’s not. A company can evolve and change depending on the CEO. It’s about finding the truths in the brand of Iceland.
Working for your country is one of the most difficult things you can do because you are creating something that the rest of the world is going to see. It gets way more personal for you. At the same time, it doesn’t matter what you do, the people who live in the country are going to judge it the harshest.
How do you uncover these truths? How do you know we’ve nailed this?
Visit Iceland has been building its brand for a long time. In recent years, the focus has been on 'Looks like you need Iceland.' When we began this campaign during COVID, we had no idea when it might be possible to travel to Iceland.
Our approach was: What is true for what Iceland can offer? We identified key values: humour, earned media, humility, and authentic Icelandic feel. We needed global creative input to push the boundaries, but with genuine Icelandic involvement, and all production was to be local.
We prioritise Icelandic talent because we’re not just selling travel; we’re showcasing Icelandic culture. Local production ensures authenticity.
So how do you approach selling brand strategy, especially in a market that has traditionally undervalued it?
Icelandic clients traditionally under-value brand strategy compared to international standards. As a company, the first people you need to market to are your employees. When everyone, from the receptionist to the CEO, understands and embody the brand vision, they become powerful advocates. This is the best selling point.
When the brand strategy is strong, you could have different people working on the brand, and they could understand it right away.
A country is not a typical company. It’s way harder to find the essence of a country. You need to find the right tone. You can’t make it something it’s not. A company can evolve and change depending on the CEO. It’s about finding the truths in the brand of Iceland.
Working for your country is one of the most difficult things you can do because you are creating something that the rest of the world is going to see. It gets way more personal for you. At the same time, it doesn’t matter what you do, the people who live in the country are going to judge it the harshest.
How do you uncover these truths? How do you know we’ve nailed this?
Visit Iceland has been building its brand for a long time. In recent years, the focus has been on 'Looks like you need Iceland.' When we began this campaign during COVID, we had no idea when it might be possible to travel to Iceland.
Our approach was: What is true for what Iceland can offer? We identified key values: humour, earned media, humility, and authentic Icelandic feel. We needed global creative input to push the boundaries, but with genuine Icelandic involvement, and all production was to be local.
We prioritise Icelandic talent because we’re not just selling travel; we’re showcasing Icelandic culture. Local production ensures authenticity.
So how do you approach selling brand strategy, especially in a market that has traditionally undervalued it?
Icelandic clients traditionally under-value brand strategy compared to international standards. As a company, the first people you need to market to are your employees. When everyone, from the receptionist to the CEO, understands and embody the brand vision, they become powerful advocates. This is the best selling point.
When the brand strategy is strong, you could have different people working on the brand, and they could understand it right away.
Quote
A strong brand is both great for the customer and it’s way easier for everyone who works on a brand to have a clear vision of what it stands for, what’s allowed, and what’s not a good fit for your tone of voice.
Hilarious: Mixing lockdown laughs with metaverse buzz, Peel's spin on Icelandic spirit went viral worldwide while travel was still on hold. Image: Peel
What are the core values that Brand Iceland consistently aims to project and what common stereotypes does it try to avoid?
Brand Iceland has long prioritised values like sustainability, humility, and a sense of fun. And we're very conscious of avoiding stereotypical portrayals like elves or bearded men in sweaters.
Instead, we emphasise Iceland's progressive nature: high education levels, job opportunities, gender equality, sustainability, and quality of life.
How did you translate these values into specific campaigns?
We came up with 'Looks like you need Iceland' by analysing the world’s needs. Our first campaign, 'Looks like you need to let it out,' addressed the global lockdown. We understood people felt trapped. A report highlighted their need for release.
We asked: how can Iceland provide that? We have so much space here in Iceland, and a lot of agencies noticed the same. We needed to have something interesting for people and for the press. Something bigger than a story of, hey come to us, we have space. It needed to be true so we built seven yellow speakers and placed them in Icelandic nature so people could record their screams to release their tension. The Icelandic press initially criticised it, the government wanted to pull funding but it gained global attention.
Brand Iceland has long prioritised values like sustainability, humility, and a sense of fun. And we're very conscious of avoiding stereotypical portrayals like elves or bearded men in sweaters.
Instead, we emphasise Iceland's progressive nature: high education levels, job opportunities, gender equality, sustainability, and quality of life.
How did you translate these values into specific campaigns?
We came up with 'Looks like you need Iceland' by analysing the world’s needs. Our first campaign, 'Looks like you need to let it out,' addressed the global lockdown. We understood people felt trapped. A report highlighted their need for release.
We asked: how can Iceland provide that? We have so much space here in Iceland, and a lot of agencies noticed the same. We needed to have something interesting for people and for the press. Something bigger than a story of, hey come to us, we have space. It needed to be true so we built seven yellow speakers and placed them in Icelandic nature so people could record their screams to release their tension. The Icelandic press initially criticised it, the government wanted to pull funding but it gained global attention.
Quote
By the time 'Icelandverse' happened, we knew what the brand stood for so well, we created the video in 10 days.
Scream if you want to visit Iceland. Image: Peel
How did the 'Sweatboots' campaign come about?
As travel began to reopen, fear remained. We wanted to transform the symbol of COVID, 'safety blankets,' into something positive: 'Sweatboots.' We emphasised sustainability, aligning with Iceland’s brand. We produced 100 boots, sold at a pop-up store in the centre of Reykjavik, and incorporated footage from the volcanic eruption. It was about turning a negative into a positive, while remaining true to the brand’s values.
‘Outhorse your email’ was about the fact that because of remote work people were having trouble balancing work with life. There was a study that showed that more people took their work with them on holiday than before Covid and we wanted to help people to log out and enjoy their holiday more. We built a functioning horse-operated keyboard. We needed to show something true to show to the press, otherwise it wouldn’t be noticed globally.
By the time 'Icelandverse' happened, we knew what the brand stood for so well, we created the video in 10 days.
Do you think there’s a lesson in that campaign for all brand managers out there?
Of course. A strong brand is both great for the customer and it’s way easier for everyone who works on a brand to have a clear vision of what it stands for, what’s allowed, and what’s not a good fit for your tone of voice.
As travel began to reopen, fear remained. We wanted to transform the symbol of COVID, 'safety blankets,' into something positive: 'Sweatboots.' We emphasised sustainability, aligning with Iceland’s brand. We produced 100 boots, sold at a pop-up store in the centre of Reykjavik, and incorporated footage from the volcanic eruption. It was about turning a negative into a positive, while remaining true to the brand’s values.
‘Outhorse your email’ was about the fact that because of remote work people were having trouble balancing work with life. There was a study that showed that more people took their work with them on holiday than before Covid and we wanted to help people to log out and enjoy their holiday more. We built a functioning horse-operated keyboard. We needed to show something true to show to the press, otherwise it wouldn’t be noticed globally.
By the time 'Icelandverse' happened, we knew what the brand stood for so well, we created the video in 10 days.
Do you think there’s a lesson in that campaign for all brand managers out there?
Of course. A strong brand is both great for the customer and it’s way easier for everyone who works on a brand to have a clear vision of what it stands for, what’s allowed, and what’s not a good fit for your tone of voice.
How Does He Do It? Magnús's Top Tips
- Peel through to the core. Start by identifying the real, authentic core of the brand — not what looks good on paper, but what rings true emotionally and culturally.
- Treat your agency like a casting director: assemble expert teams on a project by project basis.
- Blend international strategy with local authenticity. Let your culture lead production while global minds push the creative boundaries.
- Before marketing to the public, align your internal team. When everyone embodies the brand, strategy becomes seamless.
- Make ideas real enough for earned media. Out-there ideas only work if they’re rooted in truth and can be physically proven or experienced.
Learn more about Peel.
CASE STUDY
Men&Mice had a strong product but lacked a clear, modern brand. In 2020, I joined the team to help reshape its identity. This work led to industry recognition and a successful acquisition in 2023.
CASE STUDY
In 2021, I worked with Metall Design Studio to create a new brand identity for Booking Factory, a B2B software company, previously owned by Origo Iceland.
CASE STUDY
Infusing fresh energy into the home of British motorsport (and Formula ONE) with our expertise in brand guidelines, tone of voice guidelines, and compelling copywriting.
