A new report has ranked Canada's most valuable brands and the list includes everything from banks and telecom providers, to athleisure labels and coffee companies.
On Wednesday, October 19, data analytics company Kantar released its annual report on the world's most valuable brands, based on financial performance.
In Canada, it was banks that dominated the list for 2022, with RBC retaining its title as Canada’s most valuable brand overall. Despite the COVID-19 pandemic, RBC has grown its brand value by 74% since 2020, up to US$37.7 billion.
TD takes the second spot on the list, a bank that's also made recent strides. In fact, its brand value is up 67% in 2022, to a total value of US$28.7 billion.
Scotiabank, Bank of Montreal and CIBC also get a shoutout in Canada's top 10, each valued between 7 and 10 billion U.S. dollars this year.
It's not all banks recognized within the report though, with four telecom providers also making the cut.
It's Bell that ranks third, with a brand value of a whopping US$17 billion, up 25% since 2020.
Telus takes the fifth spot on the list, valued at US$10.4 billion, while Rogers and Shaw rank ninth and eleventh respectively.
Away from banks and telecom companies, many of Canada's most popular retailers and restaurants are also considered among the country's most valuable brands.
Tim Hortons, for example, snagged tenth place, with an impressive value of US$4.9 billion. This is down from 2020 though, by around 11%.
Lululemon — with an estimated US$16 billion in 2022 — is another well-known Canuck brand that's ranked highly on the list, coming behind only RBC, TD and Bell.
Dollarama also gets a nod in 13th place (US$2.9 billion), as does Metro (US$2.2 billion) and Shoppers Drug Mart (US$2.1 billion).
Other notable retailers include Canadian Tire in 23rd, Canada Goose in 28th, Aritzia in 29th and Winners and Homesense in 31st and 32nd respectively.
According to the report, Canada's brands have "bounced back" post-pandemic, with a 49% overall rise in total value. The top 40 companies on the list are worth a combined US$201 billion in 2022, which is pretty good going.
Overall though, it's clear which industries are seeing the benefits of "pent-up demand" for spending and increased savings accrued thanks to lockdowns, with banks (+68%), insurance (+60%) and telecom providers (+41%) all demonstrating the most significant growth.