TORONTO — Tim Horton’s has jumped to sixth position on Brand Finance’s Canada 100 report, which ranks brands by monetary value and also calculates the most ‘powerful’ brands, as defined by the companies whose enterprise value is most positively impacted by the strength of their brand.
“The ranking is an interesting snapshot of corporate Canada and our domestic economy — banks and telcos at the top, with movement between retail companies, branded producers and resource producers,” says Mack Ferguson, a senior advisor to Brand Finance in Toronto.
The fast-expanding restaurant chain, which was ranked ninth in 2016, enjoyed a 43-per-cent gain in its brand value this year to $10.1 billion.
Royal Bank of Canada retained its rank as the country’s most valuable brand, with a brand value of $16.6 billion, while its brand value grew by 26 per cent. It was followed by TD Bank, with a brand value of $16.5 billion, Bell ($12.7 billion), Scotiabank ($11.3 billion) and Bank of Montreal ($10.2 billion).
Globally, Google usurped Apple as the world’s most valuable brand, with a brand value of US$109.5 billion, according to Brand Finance’s Global 500, the annual ranking from the leading valuation and strategy consultancy. Lego has replaced Disney as the most powerful brand in the world.
Brand Finance determines a brand’s value through factors such as marketing investment, familiarity, loyalty, staff satisfaction and corporate reputation to determine the ‘strength’ or ‘power’ of a brand. Brand power determines the proportion of overall business revenue that is contributed by a brand.