News

Bono’s ‘ethical’ clothing line records huge losses

Bono’s ‘ethical’ clothing line records huge losses

Bono and his wife Ali Hewson's ethical clothing range has been dealt a blow. Photo: Associated Press

Bono and his wife Ali Hewson’s ethical clothing range has been dealt a blow after recording losses of $7.8 million.

Figures filed with Ireland’s Companies Office show that Edun Apparel Ltd made huge losses in the last 12 months, amounting to millions.

The company’s failure to pull in profits over the last year follows 2011’s dire finances, when the company recorded losses of $8.5 million.

Despite the situation, directors at the company state in the report that they are “very satisfied with progress during the year, which was in line with the (five-year) strategic business plan projections.”

The celebrity couple launched the retailer in 2005 to help promote the African fashion industry and improve the continent’s trade around the globe.

Recent Headlines

in Entertainment

Today in entertainment history: Dec. 18

farley

A look at the Hollywood headlines that made history.

in Entertainment

Brangelina hired a cyber security firm for their kids

brangelina

The "Tomb Raider" star and her husband are taking precautions to protect their six children as they grow up in a digital world.

in Weird

(Don’t) embrace the YES!

johnshopkins

Johns Hopkins University says 300 applicants were mistakenly sent welcome messages when they were actually rejected.

in Music

Eric Singer will leave KISS if Simmons, Stanley retire

kiss

Singer joined the group in 1991 following the death of Eric Carr, and says he couldn't continue without his pals.

in Entertainment

REVIEW: Final ‘Hobbit’ movie falls short of original trilogy

In this image released by Warner Bros. Pictures, Martin Freeman appears in a scene from the film, "The Hobbit: The Battle of the Five Armies."

This Christmas, Peter Jackson gives us the gift of his final trip to Middle Earth with The Hobbit: The Battle of the Five Armies.