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Annual Letter 2020

Dear Insider List member,

2020 has been a year we will not soon forget!

On the one hand, we faced unprecedented challenges in our business and personal lives.

On the other hand, it has emphasized what is truly important: relationships. Relationships with our customers, with our staff, with our business partners and, most importantly, with our family & friends.

The hit to the global tourism sector has not spared Iceland. In many ways we experienced an outsized economic impact given our small size. We had to make adjustments to the way we operate but, relatively speaking, we consider ourselves fortunate.

Despite the challenging environment, we accomplished a number of milestones this year:

  • We extended our store with a new “experience space” set within moss and flowers to bring the feeling of nature indoors.
  • We launched two new collections: wedding rings and men’s jewellery.
  • Wedding rings and wedding jewellery have always been important segments but they have only been available in our Reykjavík store. We have now placed many of our wedding ring designs online.
  • We launched a dedicated men's line this year. Many of our existing designs are suitable for both men and women but the dedicated men's jewellery line has new design concepts, including a range inspired by Norse mythology and, specifically, the four great guardians of Iceland.
  • We designed our first jewellery case and started offering it as a gift to customers (online and in-store) whose orders total over €200. The promotion launched in December and it has been so popular that we are considering making it permanent. The jewellery case can also be purchased separately.
  • We introduced new customer services:
    • Virtual consultations with our sales specialists in Reykjavík;
    • Ring sizers for those who want to confirm their size before ordering. Ring sizers are available on request with any online order. They can also be purchased separately;
    • AURUM Insider Rewards, our loyalty program through which customers can earn points for each online purchase that can be redeemed for online store credit;
    • Splitit, a service through which customers can pay over time using their existing credit cards; and
    • A new web site designed for Icelandic customers (is.aurum.is) where they can pay in Icelandic króna (ISKR).
  • We also expanded our cooperation with non-profits. Once again, we were chosen to design a special necklace for the annual “Bleika slaufan” Icelandic breast cancer research campaign. We started a new partnership with TreeSisters through which we will fund the planting of 2 trees with each online order.

One of the very bright spots has been our online store which has seen record visits and sales to both our Icelandic and international customers. We are always so thrilled to see that our brand has been discovered by so many people around the world. And thanks to the magic of the Internet, we’re able to stay in touch with all of you through our website, social media, and email newsletters.

We’ll close this year’s annual letter by thanking you for your unstinting support. We look forward to better days ahead, when we can once again welcome you personally to Reykjavík.

Yours,

Karl & Guðbjörg

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