Singer’s green clothing line Edun America moving to larger space on Grand Street; shift follows acquisition of big stake by LVMH.
Edun Americas, the fashion brand established by U2 singer Bono and his wife, Ali Hewson, is relocating to 107 Grand St. in SoHo.
The company, which makes eco-friendly clothes and wants to encourage trade with Africa, is moving to an 8,600-square-foot space at 107 Grand St. at the end of the month. It will occupy the entire third floor of the eight-story building, which is owned by Man Yun Real Estate. Edun signed a five-year lease with the option to renew for five more years. Asking rent was $46 a square foot.
Edun is expanding following the acquisition of a 49% stake in the company by giant LVMH Group last year and needed more space. “It’s growing,” said Zev Holzman, a Studley broker who represented the clothing company in the transaction with colleague Casey Lewis. “LVMH is a big company with lots of money. That being added to the mix can only be a good thing.”
Meanwhile, Edun wasn’t able to stay in its current building at 86 Franklin St., where it occupied 5,000 square feet. “The building was most likely going to be condo,” Mr. Holzman said.
CHRISTOPHER OWLES, principal at Sinvin Realty, and colleague TRISHA JERRY, negotiated on behalf of the landlord.