TD takes top spot as Canada’s most valuable brand

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Toronto-Dominion Bank took the highest spot as Canada’s most beneficial model in 2024, in keeping with an annual report by consultant Brand Finance PLC.

Globally, TD got here in at No. 100, down from final yr’s spot at 93, on the Model Finance International 500 2024 report, which places the world’s 5,000 greatest manufacturers to the take a look at and ranks the highest 500 most beneficial manufacturers.

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Nonetheless, TD exhibited “sturdy efficiency” round “consideration and familiarity” as probably the most acknowledged banking model in Canada, the report stated. Virtually three-quarters of respondents are acquainted with the model and 31 per cent are at the moment utilizing its companies, which helped give it a model worth of US$19 billion.

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“This regular market presence speaks to TD’s enduring enchantment within the trade,” the report stated.

A complete of 17 Canadian manufacturers, with a mixed model worth of US$155.6 billion, made the reduce.

Royal Financial institution of Canada ranked No. 2 within the nation and No. 119 on the earth, with a model worth of US$16.4 billion, was up 11 per cent from final yr. Canada Life Assurance Co., with a model worth of US$11.6 billion  — up seven per cent from 2023 — took the third spot in Canada and was No. 178 globally.

Brookfield Corp. was Canada’s quickest rising model, leaping 44 spots to No. 183 within the international rating. Its model worth elevated by an “spectacular” 29 per cent to US$11.5 billion, in keeping with the discharge.

Apple Inc. reclaimed the highest spot because the world’s most beneficial international model this yr, attaining “outstanding” development of 74 per cent, or US$219 billion, to US$517 billion.

The tech big has maintained its place because the dominant participant within the premium smartphone market with a 71 per cent worth share although iPhone’s quantity share has largely plateaued. The report attributes the corporate’s success to discovering new markets, increasing its ecosystem and inspiring upgrades to higher-value iPhones.

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“Apple has grown its model worth via strategic diversification and premiumization, transferring away from heavy reliance on iPhone gross sales in direction of ventures into wearables and companies comparable to Apple TV subscriptions,” David Haigh, chairman and chief govt of Model Finance, stated within the launch. “In line with our analysis, greater than 50 per cent of respondents acknowledged Apple as costly, however definitely worth the value, reinforcing the model’s means to demand a value premium.”

Conversely, Tesla Inc. dropped out of the highest 10 and fell to No. 18 within the rating as its model worth dropped 12 per cent to US$58.3 billion. Model Finance stated the electric-vehicle maker’s shut affiliation with Elon Musk — the corporate’s chief govt — has created “added reputational threat” for the model, and it has additionally been “harmed” by its giant publicity to the Chinese language EV market.

Different Canadian manufacturers included on the listing had been Circle Okay (owned by Alimentation Couche-Tard Inc.), Financial institution of Montreal, Financial institution of Nova Scotia, Telus Corp., Bell (Owned by BCE Inc.), Canadian Imperial Financial institution of Commerce, Canadian Nationwide Railway Ltd., Lululemon Athletica Inc., Tim Hortons (owned by Restaurant Manufacturers Worldwide Inc.), Rogers Communications Inc., Manulife Monetary Corp., Enbridge Inc. and Burger King (additionally owned by Restaurant Manufacturers Worldwide).

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