TD Bank moved from runner up to top spot on Interbrand‘s latest ranking of the 25 most valuable brands in Canada. Interbrand releases the report every two years.
Alfred DuPuy, managing director of Interbrand Canada, wasn’t surprised to see TD move up to No. 1, but he is impressed by TD’s 45% gain in brand value to $9.69 billion.
“This is an incredibly good increase. They have carved out a ‘territory’ by focusing on the TD brand,” said DuPuy. TD supplanted Thomson Reuters atop the list.
The financial sector in general did very well, especially compared to 2010. BMO and CIBC also registered solid increases which DuPuy attributes to the firms’ commitment to investment at a time when most others are trying to save on their financial bottom line.
According to DuPuy, Lululemon, which ranked No. 7 on the brand value list up from No. 17 in 2010, has also performed extremely well in promoting its brand, nearly tripling in value, according to Interbrand’s calculations, to $3.24 billion.
“Lululemon succeeds by engaging its workforce, living and breathing the brand,” said DuPuy. “When the staff greets you at the door, and with customer service or sponsorship events—at all the touch points—the brand is all they think about. Lululemon is driving choice to their stores. They have great loyalty, even with premium pricing. It’s a great business model.”
DuPuy said there were no “great surprises” in the 2012 report, “but it’s interesting to see some of the media and telco companies like Bell, Rogers and Telus do as well as they did… Even though there’s newer competition, and they face tougher threats and declines in the average revenue per unit, they’re still doing pretty well and they’re refocusing their efforts. They’ve started to revamp how they think about going to market. They have to because of the competition, but they’re taking the decision to invest.”
Interbrand is a division of Omnicom, which owns several agency network that operate in Canada, including BBDO, DDB and Red Urban.
Top 25 Best Canadian Brands for 2012
2. Thomson Reuters
6. Tim Hortons
8. Shoppers Drug Mart
14. Canadian Tire
17. Sun Life
18. National Bank
23. Investors Group
24. Future Shop
25. La Senza
Interbrand’s ranks companies according to a proprietary formula that includes revenues, profits and sales attributed to brand.