Canada's Top 40 brands triumph despite economic slowdown, growing 10% and driving $212 billion in value

• 'Elbows Up' movement inspires Canadians to choose local brands and services
• Aritzia named Fastest Riser in Kantar BrandZ ranking, up 55% as its appeal expands
• RBC maintains the top spot, with its brand value jumping 31% to US$46.7 billion

TORONTO, Oct. 22, 2025 /CNW/ -- 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 the 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 202 5

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.

Scott Megginson, President, Kantar Canada commented on the results, saying: "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've 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 14,000 brands. Find out more here.

NOTES TO EDITORS

* Kantar Barometer data, April 2025
**Kantar Canada MONITOR, August 2025

About Kantar: Kantar is the world's leading marketing data and analytics business and an indispensable brand partner to the world's top companies. We combine the most meaningful attitudinal and behavioural data with deep expertise and advanced analytics to uncover how people think and act. We help clients understand what has happened and why and how to shape the marketing strategies that shape their future.

About Kantar BrandZ: Kantar BrandZ is the global currency when assessing brand value, quantifying the contribution of brands to business' financial performance. Kantar's annual global and local brand valuation rankings combine rigorously analysed financial data, with extensive brand equity research. Since 1998, BrandZ has shared brand-building insights with business leaders based on interviews with 4.5 million consumers, for 22,000 brands in 54 markets. Discover more about Kantar BrandZ here.

The Kantar BrandZ Most Valuable Canadian Brands is the most definitive and robust ranking available. The ranking is based on interviews with more than 70,400 respondents, on 891 brands in 68 categories. Brands appearing in the Kantar BrandZ Most Valuable Canadian Brands 2025 ranking must satisfy one of the following criteria:

• The brand originated in Canada and has presence in Canada
• The brand is owned by an enterprise listed on a stock exchange, or by a private enterprise with its complete financial statements available in the public domain.

SOURCE Kantar

Anna Wilgan, [email protected] 201-421-5847