The African based ethical clothing brand Edun is ceasing all U.S. operations.
Started by U2 frontman Bono and his wife Ali Hewson, Edun is headquartered in Ireland. The news comes as the French multinational luxury goods company LVMH cuts ties with the 13-year-old company.
LVMH, which counts Louis Vuitton and Christian Dior among its portfolio, first invested in Edun in 2009 and currently owns a 49 percent share of the company.
In a joint statement, representatives for Edun and the conglomerate announced investments made in the brand would be transferred back to shareholders.
"In light of a joint review of the business, Edun is restructuring its operations in preparation for its next chapter and LVMH will transfer its shares back to the founders," executives at LVMH and Edun said in a press release. "The founders remain committed to Edun's mission for sustainable fashion and thank LVMH for its support and dedication during this journey together.”
Edun’s New York City store closed this past May. The label’s spring and summer collection will be the last to be distributed in the U.S.
The eco-friendly brand uses recycled fabrics and uses clothing weavers in Rwanda, Kenya and South Africa in an effort to promote fair trade.Photo Credit: Edun.com