Bono and his wife started the Edun line in 2005, promoting and developing the production of organic cotton shirts and dresses made in poverty stricken countries including India, Peru and Kenya, reports FemaleFirst.
LVMH, who owns several brands, including Louis Vuitton, Marc Jacobs and Donna Karan, now owns a fraction of the shares of the brand Edun.
Bernard Arnault, the CEO of LVMH, stated, "We are proud to contribute to the operational development of Edun and to the improvement of living standards of local communities."
Bono added, "With LVMH, we can step up (Edun’s) development, giving greater stability to our suppliers and the local communities they support."