Marking the first entry by a major fashion conglomerate into the eco-friendly and ethical fashion market, Bernard Arnault announced yesterday at the LVMH Moët Hennessy Louis Vuitton’s annual shareholders’ meeting that the French luxury company would be taking a minority stake in Edun. While specifics were not disclosed, according to WWD, sources estimate that the stake is approximately 45 percent and anticipate that LVMH will play an active role.
Edun, the luxury eco-friendly label founded by U2 rocker Bono and his wife Ali Hewson, not only uses organic fabrics but also encourages sustainable employment by producing its goods in India, Peru, Tunisia, Kenya, Uganda, Lesotho, Madagascar and Tanzania.??
Hopefully more large fashion labels will take a walk on the green side.