As economists, we spend a lot of time looking at data—reports, labour surveys, GDP figures, the list goes on and on. However, often our greatest insights come not from spreadsheets, but instead by speaking directly with business and community leaders navigating the implications of the numbers in the real world.

In celebration of Women's Entrepreneurship Day, I had a chance to connect with Jacqueline Jacek, Founder of JACEK Chocolate Couture, an award-winning chocolatier and bean-to-bar producer based in Sherwood Park, Alberta.

Since hearing of JACEK, I’ve found it to be a fascinating venture for an Alberta-based business. Typically, we see local companies succeed by adding value to the resources we have right here at home (think turning potatoes into delicious potato chips or the mountains into adventure tours). However, last time I checked, we don't grow cocoa beans anywhere near Alberta.

The story of JACEK is a powerful case study in building a business on core values rather than a local commodity, and embracing innovation in today’s ever-changing landscape.

You can also watch a video of our conversation here.

Chocolate meets fashion

The concept behind JACEK Chocolate was unique from day one. Jacqueline wanted to build a business that brought people joy, and for her, joy is fashion and chocolate. She had the idea to merge these two passions by treating chocolate as the “fabric,” or core product, and operate the business on a fashion industry model by releasing new, curated collections seasonally. Importantly, they would all be created with intention and through sustainable sourcing practices.

In 2009, Jacqueline decided it was time to get the idea “out of her system.” Not seeing herself as a massive risk-taker, Jacqueline was expecting to prove to herself that the idea wouldn't work before continuing down the corporate path. She took an online course on chocolate-making, and began a process of trial and error while slowly transforming her basement into a chocolate studio.

Jacqueline worked her corporate job during the day and ran the chocolate business at night and on weekends. Contrary to her initial expectations, over time the business really was working, and she eventually had to make a decision: continue down the corporate route, or really give it a go?

Jacqueline chose the latter, and with the support of her husband, her family went down to one income while she continued to build JACEK, reinvesting most of the initial results back into the business and her brand; it took eight years for Jacqueline to finally pay herself.

Fast-forward to today, JACEK has two retail boutiques in the Edmonton area with a third opening in 2026, a partner boutique in Canmore, and over 250 retail partners across the country.

The surge in cost of cacao

In early 2024, JACEK faced its biggest challenge yet: a significant global spike in cocoa prices, as discussed in a previous Twenty-Four.

About 70% of the world’s cacao comes from West Africa, and the region is grappling with both the implications of climate change and plant disease, devastating cacao crops. This isn't a short-term challenge: even after replanting, trees take about five years to begin bearing fruit. At the same time, demand from emerging markets like China and India is rising.

The result: a 400% increase in one of JACEK’s primary inputs. To keep her business sustainable, Jacqueline had three options: 

1. Reduce the size of the product (otherwise known as "shrinkflation");
2. Use cheaper fillers and fats, compromising quality;
3. Maintain the quality, but increase prices.

She chose the third option to ensure JACEK could keep customer value and quality consistent, introducing two 10% price increases last year. While a 400% shock sounds near impossible to absorb, Jacqueline reminded me that cocoa is only one of her inputs. Her biggest single cost, as for many businesses, is still labour. This context is essential. It allowed her to raise prices, but by far less than 400%.

What Jacqueline has learned is that her customers, while feeling the pinch of inflation themselves, are still showing up. They're making the same number of transactions, but perhaps buying a slightly smaller box; even when household budgets are tight, people are still willing to pay for quality and for small, meaningful moments of joy.

The fabric maker and the dress maker

What’s impressive is how Jacqueline has innovated her supply chain and production process since. She explained the chocolate production world has two key parts: the "fabric maker" (the chocolate maker, who processes raw cocoa beans from the raw materials) and the "dress maker" (the chocolatier, who buys that chocolate "fabric" to create the final product).

She started as a "dress maker," sourcing from a top-tier French supplier, Valrhona. But to be truly "about joy," she wanted a direct relationship with farmers. This led her to start her own bean-to-bar program, becoming a "fabric maker" herself—roasting the raw cacao and completing the whole process right in Sherwood Park.

Ironically, this innovation actually increased her risk. As a small-batch chocolate maker, she faces even greater challenges securing the raw beans. The key to her success, she explained, has been maintaining her strong relationship with her large supplier, Valrhona, whose buying power and inventory have been a lifeline.  

Permission to try

When I asked for her advice for other entrepreneurs, she said it was to grant yourself "permission to try," and avoid operating out of fear. Her framework: "What's the worst that can happen? If I'm okay with that answer, then I'm okay to forge ahead."

She was quick to add that the fear never really goes away and, as an entrepreneur, it’s essential to accept that fear is part of the process. "It’s often still there," she said. "The jumps and decisions are just bigger now."

What’s next?

Before letting Jacqueline go, I asked what’s next for JACEK, and whether she feels they’re in a bit of a holding pattern after navigating the last few years. “That’s not really my style,” said Jacqueline. No kidding.

Between now and the end of the year, JACEK does 60% of their annual business, thanks to corporate and individual holiday gifting. As if that wasn’t enough, just last month, JACEK launched a new brand of wellness chocolate, MYCAO. Then in January 2026, JACEK’s newest boutique in St. Albert will open.

Talk about proof of concept of the 'permission to try' framework - even as the jumps get bigger, JACEK is more than ready to make them, and we’re looking forward to following along (and eating some chocolate).

On behalf of The Twenty-Four team and ATB, we’d like to thank Jacqueline for taking the time to share the story of JACEK Chocolate Couture. To learn more about JACEK, and see the holiday collection, visit their website.

Answer to the previous trivia question: Home Depot came to Canada in 1994.

Today’s trivia question: Which West African country is the world’s largest exporter of cacao?