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LVMH goes eco

Luxury goods conglomerate LVMH has taken a stake in Bono’s environmentally-friendly clothing firm.

Eco fashion has just gone high-end. The luxury goods company LVMH, which owns Louis Vuitton, Marc Jacobs and Givenchy among others, has bought a stake in its first environmentally friendly clothing brand, Edun, founded by U2 front man Bono and his wife Ali Hewson, it was announced yesterday.

Launched in 2005, Edun prides itself in specialising in organic and eco-friendly clothing and promotes fair trade by selling items using ethically-sourced materials in countries such as India, Kenya, Uganda and Peru. It already counts Natalie Portman and Gwyneth Paltrow as fans.

LVMH chief executive Bernard Arnault, speaking at the French company's annual shareholders' meeting in Paris yesterday, revealed that the luxury goods group had bought a minority share in the ethical clothing brand, reported to be around 45 per cent, for an undisclosed sum. He said in a statement, "We are proud to contribute to the operational development of Edun and to the improvement of living standards in local communities."

Picture: Ali Hewson and Bono at the Met's Costume Institute Gala 2009 in New York.