Bono’s company, Edun, recorded losses of over $9 million

Bono, the U2 frontman and his wife, Ali Hewson, founded the Edun brand in 2005 to stimulate investment on the African continent, the Irish couple imposing also ethical principles and organic materials in the fashion industry.

In 2009 the company’s debt is 90% higher than those recorded in 2008, according to documents published by British tabloid The Sun.

Luxury group LVMH, which owns Moët champagne brand and fashion house Louis Vuitton, bought in 2009 a significant number of shares in the Edun.

Image source: ctv.ca