LVMH Moët Hennessy – Louis Vuitton, the world’s leading luxury products group has completed a minority investment in Edun, the ethical fashion company owned by Ali Hewson and her husband Bono, U2 lead singer and activist.
Edun is a brand of socially conscious fashion for men and women. The Company’s mission is to create beautiful clothing and sustainable trade with partners in the developing world. Founded in 2005, Edun demonstrates that a business model based in responsible trade can exist within the mainstream fashion industry.
“We started Edun so people could have a choice- to choose beautiful clothes with a great story behind them. 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,” explained Ali Hewson.
“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” said Bono.
“LVMH shares the vision and ethical values of Edun, a pioneer in ethical apparel, and its founders. Our Group is proud to contribute to the operational development of Edun’s activities, and of the local communities. LVMH is committed to advancing both the social and environmental aspects of sustainable development, which plays an intrinsic role in the development of our brands”, commented Bernard Arnault, Chairman and Chief Executive Officer of LVMH.
Edun will continue to be based in Dublin and New York. Mark Weber, CEO of LVMH Inc. and Chairman and CEO of Donna Karan International, will oversee this equity investment for LVMH.
About Edun (www.edunonline.com)
Edun is a socially conscious clothing company launched in Spring 2005 by Ali Hewson and Bono. The Company’s mission is to create beautiful clothing while fostering sustainable employment in developing areas of the world. Edun is a for-profit business founded on the premise of trade and commerce as a means of building sustainable communities. The Company works on a micro-level to help build the skill sets of factories where the clothes are produced. Edun currently produces its products in India, Peru, Tunisia, Kenya, Uganda, Lesotho, Madagascar and Tanzania. The Company’s mission is anchored in four fundamental respects: respect for the people who make its products, respect for the communities where its products are made, respect for the materials used, and respect for the consumers who wear Edun clothes