Over the last decades, companies have started to incorporate green issues in product innovation strategies. This dissertation studies green product innovation strategy, its antecedents and its outcomes. A three-stage approach is followed. In the first stage, the topic is explored and a preliminary research framework is identified. The second stage involves theory-building, using case studies and literature interactively. This stage leads to the identification of elelments of product innovation strategy that are easily overlooked from a traditional, non-green, perspective. The third stage applies a rigorous case study approach to test the developed theoretical model. The results reveal why some green product innovations are successful, whereas others are not. It is argued that green is not always better.