This paper contributes to the discussion on value creation. Using the literature review approach, it explains why co-creation cannot be the sole consequence of the value creation process between producers and customers. The paper shows through some empirical studies how value co-destruction sometimes occurs; depending on how the collaborative process between producers and customers is handled. The authors further discuss how sustainability performance may be affected by value creation. The review exposes the lack of both empirical and conceptual work in the area. Based on this, the authors suggest a framework that incorporates sustainability performance and value co-destruction and also offer propositions for further studies.