TORONTO, MONTREAL, and LONDON, May 1, 2019 /CNW/ - Overtaking Tim Hortons, McCain, and Thomson Reuters, Circle K is now one of the top 10 most valuable brands of Canada, according to the latest report by leading independent brand valuation consultancy, Brand Finance. Up 67% to a brand value of $7.7 billion, Circle K is also the nation's fifth fastest-growing brand in the Brand Finance Canada 100 2019 report and was just recently revealed as the fastest-growing retail brand in the world.
"The mono-brand approach bodes well for the growth of Circle K's future brand value and strength, not just in Canada, but around the world." Charles Scarlett-Smith, Marketing Director at Brand Finance Canada
Overall, Parkland Fuel is Canada's fastest-growing brand of 2019, up 111%. Outstanding brand value growth is a result of the successful acquisition of Ultramar and Chevron Canada's downstream business. Parkland Fuel is also diversifying its brand portfolio, adding private label brand 59th Street Food Co to its retail operations.
Most Valuable Brands
For the first time, all top 5 spots in the Brand Finance Canada 100 2019 ranking are occupied by banking brands as the sector benefits from high forecasted revenues and successful international expansion. RBC defends the title of Canada's most valuable brand, following a strong 26% growth to $22.7 billion. TD ($18.3 billion) ranks 2nd, followed by Scotiabank ($14.7 billion) taking 3rd, and BMO ($13.2 billion) and CIBC ($10.4 billion) in 4th and 5th place respectively.
Canadian telecoms giants Bell (down -24% to $10.3 billion), TELUS (down -7% to $9.0 billion), and Rogers (down -12% to $8.7 billion) all decreased in brand value this year, a result of wider economic pressures, increased price competition, and decreasing margins in an increasingly competitive space.
"Sponsorship is one of the main battlegrounds for telco brand awareness. Telcos are willing to spend tens of millions of dollars in sponsorship endeavours. As margins continue to be squeezed, evaluating the ROI on sponsorship will be essential in the coming years," Scarlett-Smith concluded.
Aside from calculating brand value, Brand Finance also determines the relative strength of brands using a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. Along with the level of revenues, brand strength is a crucial driver of brand value.
According to these criteria, WestJet is Canada's strongest brand. The airline scored well on aspects related to consideration, familiarity, preference, recommendation, and reputation, far outperforming the average in the airline sector.
Crown Royal is the second strongest brand in Canada, and the strongest spirits brand in the world. It is one of only two brands in the ranking to achieve a AAA brand rating. Crown Royal has fast become an international brand, beloved globally, not just by Canadians.
Canadian Tire is Canada's strongest retail brand, scoring well in brand investment measures, as reflected in their successful brand promotion and marketing campaigns. CTC's portfolio of brands, including SportChek and Gas+, is valued at $5.2 billion. With the successful acquisition of Helly Hansen, this number is only set to grow.
TELUS maintains the title as Canada's strongest telecoms brand and is the third strongest brand in the ranking. Backed up by high innovation, reputation, and solid CSR scores, the TELUS brand has remained relatively immune to broader environmental and economic changes in the Canadian telecoms market.
McCain is Canada's strongest food brand with an improved rating of AA+. McCain is the global leader in the frozen foods market, which is only set to grow in the years to come.
Intact is this year's strongest insurance brand taking the top spot from Sun Life, with a brand rating of AAA-. Achieving high scores across the board, Intact registers particularly strong results in brand preference, recommendation, and reputation.
There are 39 brands from Ontario in this year's top 100, more than any other province. Brookfield is new to the top 5 this year, displacing Rogers which fell to 6th overall in Ontario. Constellation Software is the fastest-growing brand in Ontario, growing 55% this year. The Waterloo-based software brand continues to outdo analyst expectations and has become a brand to watch.
Following a rocky 2018, Tim Hortons is Ontario's strongest brand with a brand rating of AAA-. Although their Canadian consumer base may still be reeling from last year controversies, the fast-food coffee chain continues to grow internationally.
Quebec is home to 32 of nation's top 100 brands. On average, Quebec brands increased in value by 19%, the highest of any province in Canada. For the first time, BMO is the highest-ranking Quebecois brand, overtaking Bell.
Alberta's brands are up 16% in brand value, with the oil and gas sector featuring prominently. Parkland Fuel is the fastest-growing brand in Canada, up 111%. Petro-Canada has also seen a substantial increase in brand value up 23% to $2.4 billion, making it the 6th most valuable Albertan brand.
Six companies from British Columbia are featured in the top 100. Athletic wear disruptor Lululemon is this year's second fastest-growing brand in Canada. Although less in the limelight, First Quantum is the fourth fastest-growing brand in Canada and now the third most valuable brand in BC.
The 2019 edition of the Brand Finance Canada 100 report features twelve new brands: Nutrien, Wsp Global, Emera, New Flyer, A&W, Sealtest, Quebon, Gibson Energy, Seagram's, Colliers, Transcontinental, and Enerplus Corp.
About Brand Finance
With offices in over 20 countries, Brand Finance is the world's leading independent brand valuation consultancy.
Brand Finance helped craft the internationally recognized standards on Brand Valuation, ISO 10668, and Brand Evaluation, ISO 20671.
Additional charts and insights, information on methodology, and definitions of key terms are available in the Brand Finance Canada 100 2019 report.
Data compiled for this report is provided for the benefit of the media and is not to be used for any commercial or technical purpose without written permission from Brand Finance.
SOURCE Brand Finance
For further information: Charles Scarlett-Smith, Marketing Director, Brand Finance Canada, T: +1 (514) 991-5101, email@example.com