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

Jennifer Lawrence threatens action over nude photos

jlaw

Lawrence's representative has threatened to prosecute those behind a nude photo leak affecting dozens of A-list celebrities.

in Entertainment

Family of seriously ill Joan Rivers ‘keeping fingers crossed’

joan-melissa

Joan Rivers remains in serious condition after suffering cardiac arrest.

in Entertainment

Today’s celebrity birthdays

tomlin

These celebrities will celebrate their birthdays on Labor Day.

in Entertainment

This weekend’s celebrity birthdays

diaz

A look at the celebrities who will be celebrating this weekend.

in Sports

This week’s top sports shots

little

A look at the biggest stories and best photography in sports this week.