Thursday, 14 May 2009

LVMH Invests In Bono's Clothing Line

The Wall Street Journal's sources say that Bono and his wife Ali Hewson may be close to inking a deal to sell a large stake of the Edun fashion line to LVMH. Per the perms of the deal Louis Vuitton Moet Hennessy could soon own nearly 50 percent of the eco-conscious fashion line. Edun sells organic cotton fashion manufactured in countries including Peru, Kenya and Uganda.

Edun is a for-profit business that was founded in 2005 on the premise of trade versus aid as a means of building sustainable communities. An equity investment by LVMH would allow Edun to expand its reach by having the substantial marketing and production power of the world's largest luxury-goods firm at its disposal. The investment would be a bit of a shift for LVMH but definitely shows that luxury's growing move toward the sustainable is more than just a flash in the pan.