This paper explores focused co-creation, one of three broad business model approaches to co-creation. The paper briefly outlines these approaches and then examines focused co-creation in Burberry, the luxury fashion brand. Recently, this company has focused on engaging employees and customers in co-promoting and co-experiencing value in unique ways, blurring the distinction between physical and digital platforms. The result is a transformation of this business. The case illustrates the advantages of a granular assessment of co-creation and the importance of adopting an appropriate business model approach that relates to specific co-creation goals.