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

Facebook has an heiress

Fresh
facebook

Mark Zuckerberg and his wife, Priscilla Chan, are expecting their first child.

in Entertainment

TV: What’s new on Netflix, Amazon & Hulu

Fresh
netflix

August is shaping up to be a good month for streaming some hit movies and the TV series you've been meaning to check out.

in Entertainment

REVIEW: Strong cast helps ‘Rogue Nation’ create a blast of entertainment

20-overlay10

In the latest installment of the "Mission: Impossible" franchise, Tom Cruise may have finally found a marriage that will work.

in Viral Videos

WATCH: Man rolls under train in heart-stopping video

22-overlay17

Witnesses couldn't believe their eyes when they saw a man purposely rolling under a moving train.

in Entertainment

‘Star Trek,’ ‘Superman’ costumes up for auction

nimoy2

Costumes worn by late actors Leonard Nimoy and Christopher Reeves are going under the hammer.