PARIS – French luxury group LVMH is to cut ties with eco-fashion label Edun and hand back its minority stake to the company, which was first launched by U2 star Bono and his wife Ali Hewson back in 2005.
Headquartered in Ireland, Edun sources organic, recycled and upcycled fabrics mainly from mills in Africa in a bid to promote fair trade rather than aid to further the development of local Sub-Saharan communities. The company also works with the Better Cotton Initiative.
In May 2009 the Edun sold 49 per cent of the company to LVMH for an undisclosed sum. “Edun will now cease operations in the United States and already shut down its one store there in May,” a source told the Reuters news agency.