US firm buys Nude, beauty line set up by Bono's wife Ali Hewson
Nude, the natural beauty line set up by Bono's wife Ali Hewson, has been bought by US firm Beautycounter from LVMH Moet Hennessy Louis Vuitton.
Beautycounter said that Bono would join the company as an investor and Ms Hewson is to join the board of directors at Counter Brands, the parent company of Beautycounter.
The company said it was "thrilled" to have the pair join.
"The synergy between our two companies – from mission to ingredient selection process – makes Nude a logical and compelling addition to our growing brand portfolio. We believe that incredible things are possible for our business and our unwavering advocacy work in DC.
"For the foreseeable future, the Beautycounter and Nude lines will exist as they do today," The firm said in a statement.
Beautycounter has grown strongly since being established in 2013 but is predicting a revenue intake of $225m by 2017.