The co-creation offers the opportunity for consumers to experience unique and personalized experiences, including product development. Many companies in order to consolidate market leadership and meaning to the brand, are adopting actions that propose a new experience exchange directions between company and consumer. However, combining the task of design professionals, who think the brand and its products strategically, with customer participation premise in the development of the creation process, it is a challenge that proposes the investigation of a new management model for the co-creative design. This article demonstrates this scenario and seeks to reconcile the value co-creation theory with studies on design management in order to propose a theoretical model for the co-creative design.