2025’s Kantar BrandZ Top 40 Most Valuable Canadian Brands have increased their value by 10% to US$212 billion, eclipsing Canada’s GDP growth of 1.3% in the first half of 2025. This marks a post-pandemic high, with more than half of the brands in this year’s brand ranking achieving double-digit value gains.
Highlights from this report, which includes the opinions of 70,400 Canadian consumers reveal:
• RBC remains Canada’s No.1 most valuable brand, holding the top spot since the inaugural ranking in 2019
• TD Bank retains the second position with a 7% increase in brand value to US$24 billion
• Apparel brand Aritzia (No.25; US$2.1bn) banked the largest value growth of any brand in the ranking in 2025, up 55%
• Value-focused retailers Maxi (No.31; +46%), Dollarama (No.9; +42%), and No Frills (No.37; +35%) all delivered strong growth by offering quality products at affordable prices
• Pharmacy chain Jean Coutu (US$614m) re-enters the ranking at No.40
• Canadian brands are unlocking value through Meaningful Difference (standing out in ways that matter to consumers), providing value and leaning into the ‘Elbows Up’ mindset.
Kantar BrandZ Most Valuable Canadian Brands 2025: explore how Canada's leading brands are building resilience and relevance.
Infographic
Brands with strong consumer connections that are Meaningful, Different and Salient, grow faster, resist downturns and recover more quickly. In Canada, brands that increased their Meaningful Difference in 2025 saw twice the value growth of those that declined. Discover which brands lead the way in the Kantar BrandZ Top 40 Most Valuable Canadian Brands infographic.
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Video
Watch the video to discover Canada’s top-performing brands. While Canada’s most valuable brands come from 10 different categories, both their numbers and value are concentrated in a few. Retail, Financial Services, and Telecom Providers account for 75% of the brands in the ranking, and more than 80% of the total value. The top 5 fastest risers are Aritzia, iA Financial Group, Maxi, Dollarama and Manulife Financial Corporation.
Methodology
To be ranked, a brand must originate in the market and be publicly listed, or have accessible financials if privately owned. Unicorns must have their most recent valuation publicly available. Watch the video to learn about Kantar BrandZ’s three-step valuation process, which combines financial value and brand contribution to determine a brand’s value.
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Canada’s top brands have increased their brand value by US$6.1 billion (3%) over the past year, reflecting their sustained strength, resilience and ability to remain relevant, as challenging economic headwinds continue.
Highlights from this brand ranking, which includes the opinions of more than 60,000 people about 800+ brands across 65+ categories, reveal:
• RBC is Canada’s most valuable brand for the sixth year, with a brand value of US$35.6bn
• TD remains at No. 2 (US$22.5bn) and lululemon at No.3 ($16.9bn)
• Dollarama (No.10; $5.2bn) is the fastest riser with 48% growth in brand value
• MAC Cosmetics ($4.2bn) is the highest new entry at No.11
• Retailers Homesense (No.26; +35%), Maxi (No.33; +34%) and Winner’s (No.23; +25%) feature in the top 10 fastest-rising brands
• Seven insurance brands have also seen strong performance this year: Canada Life (No.16; +36%), Manulife Financial Corporation (No.13; +36%), and Sun Life (No.12; +28%)
• One third of Canada’s Top 40 are perceived to be highly Meaningful and Different, with further opportunities to accelerate their growth by predisposing more people to buy at the right price, being more present at the point of purchase, and finding new space for growth.
Download the Kantar BrandZ 2024 Canadian report
Download the Kantar BrandZ 2024 Canadian infographic
Canada is home to the world’s ninth largest economy. It is well-known for its high levels of foreign trade, especially with the United States, with which it shares the largest trading partnership in the world, with nearly US$2.6 billion crossing the border every day.
In 2023, Canada’s top 40 most valuable brands have achieved a total brand value of US$186 billion.
Highlights from this report, which is based on the opinions of more than 49,000 people covering 840 brands and 64 categories reveal:
• RBC remains Canada’s most valuable brand for the fourth time, worth US$34.7bn
• TD is the second most valuable brand in the ranking, worth US$25.4bn
• lululemon jumps up to third position, increasing its brand value by 8% to US$17.3bn
• Discount grocery retailer, Maxi, joins the ranking for the first time at No.34
• The list of fastest growing brands is led by discount retailers; HomeSense (No.30; +38%), Winners (No.28; +32%) and Dollarama (No.10; +19%), reflecting Canadian shoppers need for greater convenience and value.
Like many countries, Canada is living through a period of disruption, yet GDP should see strong growth of 3.8% in 2022 and 2.6% in 2023. Long lockdowns have left Canadians with ample savings and pent-up demand, so for now, people are continuing to get out and spend.
37 of the 40 Canadian brands in 2022’s ranking have experienced growth, which shows that Canadian brands have held strong, despite the challenges across the world. With a total brand value of $201 billion, Canada’s Top 40 brands have seen elite brand value growth of 49% since 2020.
As well as appearing at No.57 in the global ranking, RBC has retained its number one place as the most valuable Canadian brand ($38bn; +74%). The Food and Beverages category saw the highest brand value increase, with a phenomenal 290% increase in total category value. This year’s fastest-growing brand was Apparel brand, Aritizia, which grew by 102%. Five new brands join the ranking, led by Canada Dry, at No.30.
Canadian brands that are meaningful and salient have proven their strength, but differentiation is key to boost growth in the long-term, and prevent new upstarts from gaining an advantage.
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A. The Top 5 Most Valuable Canadian Brands in 2025 are led by:
1. RBC – US$47 billion
2. TD – US$24 billion
3. Lululemon – US$16 billion
4. Bell – US$11 billion
5. Bank of Montreal – US$10 billion
These brands reflect strong performance in Financial Services, Apparel and Telecom Providers.
A. Kantar BrandZ measures brand value using a unique, consumer-centric methodology that combines:
1. Financial Value – Derived from corporate earnings and the proportion attributable to intangible brand assets.
2. Brand Contribution – The proportion of financial value driven by brand equity alone, based on:
• Demand Power (current demand)
• Pricing Power (ability to command a premium)
• Future Power (potential for future growth)
This approach is powered by over 4.5 million consumer interviews across 54 markets. Kantar’s Meaningful Different and Salient framework is endorsed by the Marketing Accountability Standards Board (MASB).