The value of the world’s most valuable brands grew by a record-setting 42% over the last year, driven by confidence stemming from vaccine availability, economic stimulus packages and improving GDP outlooks, according to the latest Kantar BrandZ ranking.

Together, the 100 most valuable brands in the world have a worth of US$7.1 trillion, roughly equivalent to the combined GDP of France and Germany. And according to the research firm, the increase of 42% in value is more than four times the study’s average annual percentage increase recorded over the last 15 years. Last year, brand value jumped 6%.

U.S. brands account for 56 of the top 100 brands, with Amazon and Apple leading the pack, with values north of half a trillion U.S. dollars each. Amazon’s worth grew by 64% (up US$268 billion) alone to US$684 billion this year. It is followed by Apple, Google, Microsoft and Tencent in the top five.

Two Canadian brands made the 2021 ranking. Valued at US$27.6 billion and ranked at #63 on the global list (after experiencing a 33% jump in value), RBC is the country’s most-valuable brand and the third-most valuable bank brand globally. Growth in its brand value was among the highest of any global bank.

Meanwhile, TD, valued at US $20.2 billion, remains the second most-valuable brand in Canada and takes the #90 spot on the global ranking. According to BrandZ, the bank “continued to perform well on key consumer measures, including out-performing the Top 100 average on equity measures associated with being a meaningful brand.”

The brand value of RBC and TD is now higher than BrandZ has recorded in the past five valuations. Their performance comes even as many global brands experienced brand value declines over the same period.

Lululemon, which was labelled the “biggest success story” of BrandZ’s Canadian-specific ranking of most valuable brands last October, fell short of making the list of top 100 brands this year by an estimated US$1 billion.

But Lululemon now ranks as the world’s fourth-most valuable apparel brand (behind Zara, Adidas and Nike), having experienced an 85% increase in brand value – twice the average growth of the top 100. BrandZ attributes its success in part to the shift to a work-from-home environment that accelerated consumer interest in casual attire.

At #47 globally, Tesla is the fastest growing brand and has become the most valuable car brand, growing its value by 275% to US$43 billion. And the 2021 ranking includes 13 new entrants, including Zoom (#52) and Spotify (#99).

BrandZ determines the ranking by calculating the dollar amount that the brand contributes to the overall business value of the parent company. Its research is based on financial data and quantitative consumer research with 170,000 consumers globally.

Top 10 most-valuable brands