FRANCE: LVMH invests in Bono eco brand Edun
14 May 2009 | Source: just-style.com

Luxury goods firm LVMH has completed a minority investment in Edun, an ethical fashion company jointly owned by U2 frontman Bono.

Edun, founded in 2005, aims to do sustainable trade with partners in the developing world.

"We started Edun so people could have a choice to choose beautiful clothes with a great story behind them," explained Ali Hewson, co-owner and Bono's wife.

"LVMH's investment is a vote of confidence in Edun and its mission and an important step in Edun's journey to reach its full potential.

Bono added: "Edun is a small brand with a loud voice. With LVMH, we can grow bigger and faster than we could on our own and bring greater and longer-term stability to our manufacturers and the communities they support."

Edun will continue to be based in Dublin and New York.

Mark Weber, CEO of LVMH and chairman and CEO of Donna Karan International, will oversee the equity investment for LVMH.

source: just-style