Saturday 27 May 2017

Losses at Bono and Ali's Edun firm climb to $66m

Bono and Alison Hewson. Photo: AP
Bono and Alison Hewson. Photo: AP

Gordon Deegan

Losses continued to mount last year at the ethical clothing company founded by Bono and his wife, Ali Hewson.

Figures just lodged show Edun Apparel recorded a loss of $5.34m (€4.6m) in the 12 months to the end of December last. It followed losses of $6.4m in 2013, $7.88m in 2012 and $8.5m in 2011.

At the end of December last, the accumulated losses at the firm stood at $66.3m.

Bono and Ali established the global fashion brand in 2005 in an effort to bring about positive change through its trading relationship with Africa.

In spite of the losses, Bono, Ali and the other directors state that they "are confident that the current business strategy will result in the development of a successful and sustainable brand".

Irish Independent

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