Interbrand Announces Canada’s 2010 Best Brands by Value
Interbrand Announces Canada's 2010 Best Brands by Value
Thomson Reuters leads the ranking as Best Canadian Brands portfolio increases in value by $14.9 billion
TORONTO, May 17: Interbrand, creators of the original methodology for Brand Valuation and authors of the annual Best Global Brands ranking, today released their 2010 Best Canadian Brands ranking. This year’s number one place in the ranking has been attained by Thomson Reuters.
Rocketing to the top of the ranking after the confident acquisition of Reuters by the Thomson Corporation in 2008, “the Thomson Reuters brand serves as a model of how a Canadian enterprise can become a global powerhouse, and establish itself at the top of its sector”, said Bev Tudhope, CEO of Interbrand Canada.
This year’s top 25 Best Canadian Brands:
1. Thomson Reuters
5. Shoppers Drug Mart
6. Tim Horton’s
11. Canadian Tire
22. Investors Group
25. La Senza
“Canadian brands have fared extremely well through the turmoil, with this year’s top 25 increasing by an aggregate value of $14.9 billion, or 35% over our last study in 2008”, observed Tudhope. “Brands that have made significant gains recognize that the pressure for short-term profits is not a reason to curtail brand investment. The strongest brands know that erosion of long-term value is certain if the integrity of the brand promise is put at risk and they fail to understand their customers’ changing perceptions of value”.
As global success stories go, Thomson Reuters and BlackBerry have both demonstrated what is possible for Canadian brands when managed as strategic assets. Thomson Reuters, with a brand value of $9.4 billion, and BlackBerry, with a brand value of $6 billion, each contribute model approaches to putting Canadian brands on the global stage. Said Tudhope, “These global brands create greater awareness of Canada’s strengths and capabilities, and contribute to a clearer definition of this country”.
Notable movers on the 2010 rankings include Tim Hortons, with a brand value of $2.6 billion, moving from 10th place to sixth. With a stronger brand presence than ever in the Canadian market, Tim’s ambitious expansion in the US continues, making it the fourth largest publicly-traded quick service restaurant in North America. Also making significant progress in the US and other international markets is Lululemon, whose innovative approaches in the retail space have moved it up from 22 to 17 on the ranking with a 57% increase from 2008 and a brand value of $827 million.
Second and third place were awarded to Canadian financial services giants, TD and RBC. “TD and RBC have not only succeeded in the Canadian market, but have also attracted global attention due to prudent business and risk management, enabling them to withstand the challenges of the economic downturn”, said Tudhope.
TD Bank’s brand value of $6.7 billion moved the brand into second place from third in 2008 with strong financials, notable US acquisitions and disciplined brand management, helping it push past Canadian peers to secure a position as one of the 10 largest North American financial institutions.
“As the global economy shifts, these financial services powerhouses will need to continue investing in their brands to compete with a sector eager to recover from significant losses”, commented Tudhope.
Best Canadian Brands 2010
Founded in 1974, Interbrand is recognized for being at the forefront of the dialogue on brands and practice of building brands as business assets. Today, Interbrand is among the largest brand consultancies and has grown to include 36 offices in 25 countries. The combination of rigorous strategy and analytics with world-class design creativity help its clients to create and manage brand value in all market dynamics. It is widely respected for its annual study, The Best Global Brands, and for creating a broader platform for the discussion of brands on the Webby-award winning brandchannel.com. For more on Interbrand, visit www.interbrand.com.
Interbrand Canada offers end-to-end brand management solutions, helping clients identify what’s best for their brand and business, and enabling them to act decisively to achieve their goals. Our exceptional knowledge of the Canadian business environment is matched with an ability to develop strategies for succeeding in global markets.
For further information: Erin O’Keefe, Director, Interbrand Canada, (416) 628-6052, email@example.com