Bono’s “Win-Win” Barter Deal With World’s Largest Luxury-Goods Firm
An equity investment by LVMH (brands include fashion house Louis
Vuitton, Dom Perignon champagne and Hublot Watch) will see them
acquiring a large stake — nearly 50% — in Edun, the ecologically and
socially conscious fashion line backed by singer Bono and his wife
Ali Hewson.
Edun, founded in 2005, specializes in organic-cotton fashions that
are manufactured in developing countries including India, Peru,
Kenya and Uganda. The company’s mission is to promote trade as a way
to boost communities and to encourage other entrepreneurs to do
business in developing countries, particularly Africa.
Edun will be managed by LVMH and be gaining access to their
marketing, management and production resources, a real coup for
Bono’s young operation. For LVMH the deal provides them with the
introduction into the growing market for fashion businesses that
have ecological and ethical goals.
