>> For months, Bernard Arnault has been hovering around an unnamed ethical fashion brand — many guessed Bono and his wife Ali Hewson's label Edun, but she denied it outright back in March.

Turns out it was all a ruse — at the LVMH annual shareholder's meeting Thursday morning, Arnault said the company will announce "very soon" that it has taken an "important" stake in the eco-luxury label — LVMH is expected to remain a minority shareholder, but their stake is to be nearly 50 percent.  As part of the deal, LVMH will play a "very active role" in the development of Edun as a brand, including management of the company as well as granting access to its marketing and production resources.

The Edun investment marks the first foray by a major fashion conglomerate into the ethical fashion market.