Global Fund
1% and red?
The latest from Bono :
[via Bono Sees Red - Jan 26, 2006 - E! Online News]:
The U2 frontman, Time co-Person of the Year and all-around good guy turned up Thursday at the World Economic Forum in Davos, Switzerland, to unveil a partnership with several big companies that will sell a brand called Red. The label will adorn Armani and Gap clothes, Converse sneakers and even an American Express card, with one percent of the profits earmarked for the Global Fund to Fight AIDS, Tuberculosis and Malaria.Flanked by Italian fashion designer Giorgio Armani and various suits from the other companies, Bono hailed the private sector for their support and raising awareness at a critical time when governments have been slow to tackle the problem.
"This is really sexy to me. It is sexy to want to change the world," the 45-year-old Irish rocker told reporters.
So basically luxury goods companies are going to use cheap labor, cheap materials to create products they will mark-up 300% and then only give back 1% to charity?
American Express | Armani | Business | Converse | Economics | Justice | Markets | Poverty | The GAP | World Economy | Bono | Global Fund | Product RED
