Bono Gets More Green: LVMH to Buy Minority Stake in Edun
Filed under: fashion — Michael d'Estries @ 10:06 am
May 15th 2009
You know what Bono and his wife Ali Hewson need? More money!
Apparently, the two will be getting just that after LVMH (LVMH Moët Hennessy Louis Vuitton SA) announced yesterday an almost-50 percent minority stake in Edun — the eco-friendly and ethical fashion line started by the pair. “With LVMH, we can step up (Edun’s) development, giving greater stability to our suppliers and the local communities they support,” Bono said in LVMH’s statement.
And we agree. Besides padding the singer’s pockets with a bit more cash, this infusion will also help Edun expand it’s eco-friendly brand and do more to help third world countries. “We are proud to contribute to the operational development of Edun and to the improvement of living standards of local communities,” said LVMH Chief Executive Bernard Arnault.
More details on the deal available here.
via TheCut
I love this! As you can see from my site I love Edun a lot- This push from LVMH will help expand Edun so that we can all have more Edun!