The paper is among the first to consider coopetition strategy in the context of corporate level sustainability. Through examination of literature and an example of an actual coopetitive agreement in wine industry logistics, consideration is given to the potential benefits of and problems with sustainability‐based coopetition strategies. The research, based on publicly available information, leads to suggestions for future study into specific theoretical, methodological and pragmatic aspects of sustainability‐related coopetition strategies. At a theoretical level, research into the dynamics of coopetition strategies and relationships between win–win and trade‐offs within economic, environmental and social performance settings is suggested. As the field of study continues to emerge, a broader set of exploratory case studies involving collaborative engagement and participation of practitioners is needed. Attention is also drawn to a broad range of settings available for further research into the design and implementation of sustainability‐related coopetitive strategies exploring advantages for corporations and society. Copyright © 2017 John Wiley & Sons, Ltd and ERP Environment