Edun, the sustainable fashion brand founded by U2’s Bono and his wife, Ali Hewson, is ceasing operations. Its parent company, LVMH, has decided to divest and is selling the shares back to the founders. Business of Fashion reported the divestment and said that it’s unclear if or when the brand will be revived. However, a statement provided to BoF from Edun seemed hopeful.
“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,” a representative for Edun said in a statement. “The founders remain committed to Edun’s mission for sustainable fashion and thank LVMH for its support and dedication during this journey together.”
Edun was one of the early sustainable fashion brands dedicated to working with African artisans (Brother Vellies and Rosario Dawson’s Studio One Eighty Nine followed in their footsteps). However, they went through many designers and different looks for the brand. It also shifted from a low-market contemporary brand sold at Anthropologie to one with $500 pairs of cotton pants.
The decision follows a spree of divestments by LVMH competitor Kering. Tomas Maier’s eponymous brand ceased operations last week following a decision by Kering. They also spiraled out of Puma, sold back shares to Stella McCartney, and are in talks to leave Christopher Kane in order to focus on the luxurious and trendy trinity of Gucci, Saint Laurent, and Balenciaga.