2025’s Kantar BrandZ Top 40 Most Valuable Canadian Brands have increased their value by 10% year-on-year to US$211.8 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 ranking achieving double-digit value gains. This strong performance was fuelled domestically, with the imposition of trade tariffs motivating greater support and preference for Canadian brands. 56% of Canadians plan to buy more local products and services, according to Kantar’s research.
The Retail, Financial Services and Telecom Providers categories account for 75% of the brands in the ranking, and more than 80% of its total value. Canada’s Financial Services brands continue to lead te way, contributing 57% (US$121.7bn) of the Top 40’s total brand value. Over the past year, they’ve shown remarkable resilience and growth: six of the 13 banks and insurers in the ranking achieved value increases of over 30%, and none experienced a decline.
RBC remains Canada’s most valuable brand, holding the top position since the inaugural ranking in 2019. This year, RBC’s brand value surged 31% to US$46.7 billion. While rising interest rates have benefited many banks, much of RBC’s growth stems from its ongoing investment in brand-building, driven by innovations in digital banking, enhanced client experiences and marketing campaigns that drive impact. RBC’s strong global footprint, with operations in over 30 countries, complements its leading presence in Canada, where it generates 60% of its revenue. The bank also demonstrates a strong commitment to impact-driven investment, donating C$184 million to global initiatives over the past year, including the RBC Race for the Kids.
Mary DePaoli, Executive Vice President & Chief Marketing Officer at RBC commented, “Our seventh consecutive year as Canada's most valuable brand highlights the important role our strong brand plays in helping drive RBC’s overall success. This recognition is a testament to the confidence that Canadians continue to place in us as a trusted and reliable partner. We owe this achievement to our dedicated employees, who deliver outstanding service, expert advice and unwavering support to make a meaningful difference in the lives of our clients and communities every day.”
TD Bank retains the second position in the ranking with a brand value rise of 7% to US$24.1 billion. The top two brands in the ranking account for one-third of its total value. Lululemon completes the Top 3, with a brand value of US$15.8 billion.
Apparel brand Aritzia (No.25; US$2.1bn) is the fastest-rising brand, increasing its brand value by 55% through successful expansion into the US, a focus on e-commerce and digital innovation, and effectively meeting category needs. Once a boutique brand, it has broadened its appeal by creating a more inclusive experience centered on everyday luxury.
Joining Aritzia in the Top 5 Fastest Risers are iA Financial Group (No.33; US$1.2bn; +51%), value retailers Maxi (No.31; US$1.3bn; +46%) and Dollarama (No.9; US$7.4bn; +42%), and Manulife Financial Corporation (No.11; US$4.8bn; +36%).
Kantar BrandZ Top 10 Most Valuable Canadian Brands 2025
| Rank 2025 | Brand | Category | Brand value 2025 (US$M) | YoY change (%) |
| 1 | RBC | Financial Services | 46,702 | 31% |
| 2 | TD | Financial Services | 24,065 | 7% |
| 3 | Lululemon | Apparel | 15,751 | -7% |
| 4 | Bell | Telecom Providers | 10,851 | -24% |
| 5 | Bank of Montreal | Financial Services | 10,241 | 9% |
| 6 | Telus | Telecom Providers | 9,564 | -1% |
| 7 | Rogers | Telecom Providers | 8,085 | -9% |
| 8 | CIBC | Financial Services | 7,609 | 33% |
| 9 | Dollarama | Retail | 7,377 | 42% |
| 10 | Scotiabank | Financial Services | 7,349 | 9% |
Retail brands account for 11% (US$24.1bn) of the ranking’s total value. Despite a 1% decline in overall retail sales across Canada this year, none of the 11 retail brands in the Top 40 have lost value. Canadians continue to grapple with the rising cost of living, with 29% reporting feeling ‘high’ or ‘severe’ anxiety around their economic situation. Value-focused retailers Maxi (+46%), Dollarama (+42%), and No Frills (No.37; US$881m; +35%) all delivered strong growth by offering quality products at affordable prices. Dollarama has earned recognition for its welcoming, highly convenient shopping experience. No Frills expanded its footprint with 30 new locations in 2024 and introduced a fresh food range to meet evolving customer needs.
Last seen in the ranking in 2020, pharmacy chain Jean Coutu (No.40; US$614m) has re-entered the Top 40 this year. It has been delivering on value and expanding its product offerings, with a focus on convenience, personalized loyalty offers and meeting broad category needs.
Telecom Providers make up the second-largest category in the ranking, with six brands accounting for 16% (US$33.9bn) of the total value. Despite the sector facing competitive pressures, regulatory hurdles and shifting consumer expectations, Vidéotron (No.27; US$2.0bn; +11%) managed to grow its value, driven by strategic infrastructure investments, integration of telecom and content services and a customer-centric approach. Its Freedom Mobile offering has emerged as a disruptive force, helping to drive down mobile prices nationwide, along with other factors.
Canadian brands’ international footprint remains modest compared to other markets. On average, the Top 30 Canadian brands generate 31% of their business from overseas markets, significantly lower than peers in France (85%) and Germany (75%). However, some brands are making strong international gains. Notable examples include Aritzia and Intact Insurance (No.16; US$3.4bn; +25%), both of which are expanding their presence beyond Canada.
Brands to watch
Canada is home to a number of promising local brands that, while not in Kantar BrandZ's Top 40, are strong contenders to watch. These include London Drugs, which is expanding its presence with innovative, sustainable store formats, Polar Ice Vodka, which is energizing the category with limited-edition releases and distinctive local collaborations, and household paper brand Bonterra.
Sustainability’s role in brand growth
Bonterra has been named the ‘Most Sustainable Canadian Brand’ in 2025. The brand has embedded sustainability across every aspect of its operations, from product development and manufacturing, to materials, packaging and partnerships. Bonterra has also joined forces with organizations such as Veritree and 4ocean to advance environmental and social responsibility. According to Kantar BrandZ research, the importance of sustainability in driving brand growth has surged by 25% over the past five years alone.
In turbulent times, strong brands prevail. The past year has been marked by a slowing economy, declining consumer confidence and global uncertainty, yet Canada’s most valuable brands have not only endured, they have also thrived. Skilfully navigating a complex landscape, they demonstrate remarkable agility, resilience and relevance, and are prized by consumers as beacons of trust and innovation. Many are tapping into a renewed sense of national pride, delivering products, campaigns, and experiences infused with Canadian identity. The brands that continue to evolve with consumer expectations and economic realities will lead the way in the years ahead.
More key trends from the 2025 Kantar BrandZ Top 40 Most Valuable Canadian Brands report include:
- Customer experience is a key driver of brand equity. Canada’s BrandZ Top 40 have secured their positions not only through financial performance, but by consistently delivering experiences that build trust, loyalty and emotional connection. Shoppers Drug Mart exemplifies this by expanding into e-commerce while maintaining a strong in-store offering. No Frills also stands out for its continued focus on delivering a ‘no frills’ high-value shopping experience that resonates with Canadian consumers.
- Value perception is critical in today’s economic climate. In 2025, brands perceived as offering low prices grew by an average of 22%, while those seen as expensive declined by 7%. Only 13% of Canada’s top brands are viewed as delivering great value, highlighting a major opportunity for growth through sharper value propositions.
- Meaningful Difference fuels brand growth. Brands that increased their Meaningful Difference over the past year saw double the value growth of those that declined. This metric reflects a brand’s ability to predispose consumers to choose it, remain top-of-mind at the point of purchase and unlock new growth spaces. Standout performers include Aritzia, Dollarama, No Frills, President’s Choice, Belair Direct, Intact Insurance and Shoppers Drug Mart.
- Canadian brands are outperforming US brands on home soil. On average, scores for being Meaningful, Different and Salient – the foundations of brand equity – have risen year-on-year, while declining for American brands. Consumers also perceive Canadian brands as being more purposeful, disruptive and advanced than a year ago, with US brands seen as less so.
The 2025 Kantar BrandZ Top 40 Most Valuable Canadian Brands ranking, report and extensive analysis are now available at www.kantar.com/campaigns/brandz/canada
For a quick read on a brand’s performance compared to competitors in a specific category, Kantar’s free interactive tool, BrandSnapshot powered by BrandZ, provides intelligence on 15,000 brands. Find out more here.
