Tony’s Chocolonely: The pursuit of growth with purpose
The case, and its accompanying pedagogical material, offers a unique perspective on CSR-based transformational entrepreneurship, looking at a startup company with a strong ethical purpose and objective, in this case the transformation of the cocoa supply chain towards a child-labor free, fair-trade, organic agriculture-based sourcing. The case follows the history of Tony’s Chocolonely, a Dutch producer of premium chocolate bars with a strong responsible footprint. It follows the footsteps of its founder, Teun van de Keuken (a.k.a. Tony) from journalist to social activist and ultimately entrepreneur with a strong sense of purpose and defined impact objectives. The 12-year journey led Tony’s Chocolonely chocolate bars to claim the number three spot in the Netherlands’s chocolate markets, with the products also sold in many other countries around the globe.
- Scaling up
- Growth with purpose
- Social and environmental responsibility
- CSR
- Child labor
- Materialities
- Mixed motives firms
- Ethics
- Transformational entrepreneurship
- Social ventures
- Impact investment
- Leading change
- Standard setting
- ESG criteria
- Work-life balance
Tony’s Chocolonely, Consumer Goods, Food and Beverage
2005-2018
Cranfield University
Wharley End Beds MK43 0JR, UK
Tel +44 (0)1234 750903
Email [email protected]
Harvard Business School Publishing
60 Harvard Way, Boston MA 02163, USA
Tel (800) 545-7685 Tel (617)-783-7600
Fax (617) 783-7666
Email [email protected]
NUCB Business School
1-3-1 Nishiki Naka
Nagoya Aichi, Japan 460-0003
Tel +81 52 20 38 111
Email [email protected]
IMD retains all proprietary interests in its case studies and notes. Without prior written permission, IMD cases and notes may not be reproduced, used, translated, included in books or other publications, distributed in any form or by any means, stored in a database or in other retrieval systems. For additional copyright information related to case studies, please contact Case Services.
Research Information & Knowledge Hub for additional information on IMD publications
We seek to make ethnography more intelligible and accessible to entrepreneurship scholars. We begin by defining ethnography and discussing the promises and challenges of conducting ethnographic studies in entrepreneurship. Next, we offer practical...
This case series explores what companies can learn from luxury brands without becoming luxury brands themselves. The video B case features interviews with three Vanzetti Engineering executives: the marketing director, the CEO and owner and the chi...
Survey after survey shows that executives think their business is in danger of being commoditized. This means their company is not able to differentiate sufficiently to command higher market prices and profits. Luxury brands, by contrast, are the ...
Via a choice-based conjoint experiment and Hierarchical Bayesian Analysis (HBA) of 2538 decisions from 141 entrepreneurs, we model opportunity evaluations as a utility maximizing response to identify and compare part-worth utilities for distinct l...
Entrepreneurship has emerged as a vibrant and dynamic field of academic inquiry, capturing the attention of scholars in management and other social science and engineering disciplines. Its significance extends beyond academia to policymakers and p...
Across various European regions, particularly in areas rich in small and medium-sized enterprises (SMEs), we find vibrant networks of family firms that contribute to both economic vitality and social resilience. These entrepreneurial ecosystem...
Michel Galeazzi and Felix Ackermann, founding partners of the private equity firm Evoco, sat with the rest of the team pondering the latest strategic issues. Evoco had evolved significantly as a fund manager since its creation in 2012, taking adv...
The study aims to assist small- and medium-sized enterprises (SMEs) in preparing for the retirement of their owner-managers and smoothing their management transition. It explores how owner-managers perceive and navigate their retirement journey fr...
Research Information & Knowledge Hub for additional information on IMD publications
in Entrepreneurship Theory and Practice November 2025, vol. 49, no. 6, pp. 1499–1534, https://doi.org/10.1177/10422587251364820
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
in Economic Letters October 2025, vol. 256, 112634, https://doi.org/10.1016/j.econlet.2025.112634
Research Information & Knowledge Hub for additional information on IMD publications
in International Journal of Management Reviews October 2025, vol. 27, no. 4, pp. 457-465, https://doi.org/10.1111/ijmr.70001
Research Information & Knowledge Hub for additional information on IMD publications
in Capital Insights July-September 2025, vol. 2 issue 3, pp. 73-75
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
in International Journal of Entrepreneurial Behaviour and Research 12 September 2025, ePub before print, https://doi.org/10.1108/IJEBR-05-2024-0550
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications