Color us surprised! LVMH, the world’s largest luxury conglomerate, has paid an undisclosed amount to secure a minority stake in Edun, a prominent ethical fashion line.
Edun was founded in 2005 by U2 frontman Bono, his wife Ali Hewson, and designer Rogan Gregory. The line makes casual clothes for both men and women (pictured here) using organic cotton and fair trade labor in developing countries including India, Kenya, Lesotho, Peru, and Uganda.
“With LVMH, we can step up [Edun's] development, giving greater stability to our suppliers and the local communities they support,” Bono said in an LVMH statement. (Read the rest HERE.)