The Icelandic horse is one of Iceland’s national treasures. The breed is enjoying growing international popularity because of its unique gaits, gentle temperament and indomitable spirit. Strategic branding of the Icelandic horse started with the emergence of the Horses of Iceland brand in 2015, which was intended to generate more profit in the industry and unite disparate marketing efforts. The main objectives of this study were to gain insight on the Icelandic horse’s customer-based brand equity among international equestrians and determine whether the breed’s image is in line with Horses of Iceland’s positioning.