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.

Canada 2023 brandZ
Discover the strengths and resilience of Canada’s top-performing brands. 
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Download the presentations from the launch event here:

2023 Kantar BrandZ Most Valuable Global Brands Report highlights

Martin Guerrieria, Head of Kantar BrandZ

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How Difference makes the difference

Margaret McKellar, Client Partner, North America

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Why brand trust matters and how to effectively build it

Tanya Whitehead, Client Partner, North America

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Brand-building over performance marketing

Ryan Crooker, Vice President, Brand Solutions

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Get in touch to learn more about Generative AI 2028: the human view and its implications for shaping brands


Explore the infographic to see the top 40 most valuable Canadian brands, category performance, top risers and more. Much of the movement in this ranking involves value retail brands, reflecting significant behavioural shifts among Canadian shoppers. Research shows that value, convenience, and word-of-mouth resulted in brand value growth for the highest performing brands.

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Watch the countdown video to discover the top 40 most valuable Canadian brands of today. Since 2019, Canadian brands in the ranking that have improved their Demand Power - which measures consumer demand for a brand based on perceptions alone - grew their brand value on average by 40%, or at twice the rate of those that did not. To grow in the future, Canadian brands can increase their Demand Power by focussing on attributes such as distinctiveness, convenience and purpose. 


To be eligible for inclusion in this ranking, the brand must have been created in the market and be owned by an enterprise listed on a recognised stock exchange. For those owned by private companies, financial statements must be available in the public domain. Unicorn brands must have their most recent valuation publicly available. Learn more about the methodology behind Kantar BrandZ brand valuation rankings in this video, which presents the three-step process, which combines financial value and brand contribution to determine a brand’s value.  

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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.

Download the Kantar BrandZ 2022 Canadian report

2021 Kantar BrandZ Top 100 Most Valuable Global Brands: highlights

Martin Guerrieria, Head of Kantar BrandZ, provides a brief overview and key insights from the 2021 Kantar BrandZ Top 100 Most Valuable Global Brands study.

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The role of sustainability in driving brand value

The pandemic has been an impetus to pause and reflect, and it has created important shifts in the consumer marketplace. What does this mean for your brand? Margaret McKellar, Vice President Brand Strategy & Innovation, Kantar Canada, shares highlights from Kantar’s latest research around the increased importance of environmental, social and corporate governance (ESG) and how it can drive brand value.

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2021 Kantar BrandZ Canadian learnings

Paul Gareau, Head of Brand, Media and Content, Kantar Canada, explores how brand equity changed for the Top 40 Most Valuable Canadian Brands through the pandemic, looking at important consumer measures, including environmental sustainability, innovative delivery of products and services, and diversity & inclusion.

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Top Canadian brands have proved what we have often seen during challenging times in the past: good brands can cushion the blow of an economic shock. The BrandZ Top 40 Most Valuable Canadian Brands 2020 have largely held their value in the face of the crisis, falling only 6 percent, roughly in line with the S&P TSX index.

Royal Bank of Canada retains the top spot at number one with a brand value of $21.7bn. The Banking category makes the largest contribution to the ranking’s overall brand value, with a 42% share, with Telecom Providers second at 23%.

Lululemon was the biggest success story at number 4, with a rise in value of 60% to $12.1bn.

Retail was one of the fastest-growing categories, up 13% in total value. The single new entry was value retailer No Frills (no.39, $370 million). Four retail brands feature in the six fastest climbers; Food Basics (no.36, $419 million) up 24%, Dollarama (no.15, $1.9 billion) up 21%, Sobeys (no.34, $466 million) up 19% and Shoppers Drug Mart (no.20, $1.7 billion) up 17%.

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Download the 2020 report

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RBC is crowned Canada’s most valuable brand in inaugural BrandZ Canada Top 40 ranking.

They key to any business’ success is how it is seen in the eye of its customer. In the latest study to be added to the BrandZ series of rankings, this report uncovers the trends driving brand growth in Canada by analysing validated financials alongside interviews with over 50,000 Canadian consumers.

Download the BrandZ Most Valuable Canadian Brands 2019 report

Download the BrandZ Most Valuable Canadian Brands 2019 infographic

Kantar BrandZ Global Report 2023
Discover the factors driving growth for the world’s most valuable brands.
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