Teun van de Keuken — The decisions behind Tony’s Chocolonely

A TV journalist did something unusual: he asked to be prosecuted himself, because he had eaten chocolate that he believed had been made with child slavery. When that changed nothing, Teun van de Keuken had a chocolate bar of his own made. Twenty years later Tony’s Chocolonely is an international brand with revenue of around €240 million for 2024/25 and a slightly positive operating result, but still a net loss. How did it get there, and which choices cost what?

In this independent founder story you discover how a journalism project became a company. You read about the first run of 5,000 bars, the summary proceedings over the ‘slave-free’ claim, the fine from the Dutch media regulator, the arrival of Henk Jan Beltman as majority shareholder, the unevenly divided bar as a brand choice and the sourcing principles with a higher price for farmers. The setbacks are covered too: the criticism of the partnership with Barry Callebaut, the cases of child labour in the supply chain reported by the company itself, years of losses despite record revenue and the cocoa crisis of 2024/25.

From story to practice

Six Decision Labs translate the decisions to your own business, with theory, a fictional practical case, a decision rule and a setback. You work out how big a first production run can be, what the evidence for a claim costs per product, what a majority investor means for your control, how to factor a higher raw material price into your numbers, when a factory of your own pays off and how to report abuses in your supply chain honestly.

What do you get?

• 43 pages with the full founder story.

• Eight chronological chapters on how Tony’s Chocolonely developed.

• Six Decision Labs with business theory and fictional worked examples.

• Twelve digitally fillable worksheet pages with 24 fields in total and answer checks.

• A six-week Reality Test to apply the lessons yourself.

• A historical timeline and a box on what’s different in the Netherlands.

• 37 source references for further reading and verification.

Who is this guide for?

For (aspiring) entrepreneurs who want to make a product with a social promise, for anyone working with vulnerable supply chains and for anyone who wants to know which decisions lie behind a well-known Dutch brand.

You don’t just read how Tony’s Chocolonely grew. You examine which decisions, risks and lessons you can apply yourself.

Digital product · 43 pages · PDF · Available immediately after purchase

This publication was developed independently by FOREFACT and is not affiliated with, sponsored by or endorsed by Teun van de Keuken, Henk Jan Beltman, Douglas Lamont, Tony’s Chocolonely or any affiliated companies.