Product RED
Product Red, styled as (PRODUCT)RED, is a for-profit brand which is licensed to partner companies such as American Express, Apple Inc., Converse, Motorola, Gap and Emporio Armani. It is an initiative begun by U2’s frontman, Bono, and Bobby Shriver of Debt AIDS Trade in Africa (DATA) to raise money for the Global Fund to Fight AIDS, Tuberculosis and Malaria. Bobby Shriver has been announced as the CEO of Product Red, whilst Bono is currently an active public spokesperson for the brand.
Each partner company creates a product with the Product Red logo. In return for the opportunity to increase their own revenue through the Product Red products they sell, a percentage of the profit is given to the Global Fund.
from www.wikipedia.com
“Philanthropy is like hippy music, holding hands. Red is more like punk rock, hip hop, this should feel like hard commerce,” Bono said.
See http://www.businessethics.ca/blog/2006/01/u2s-bono-rocks-corporate-philanthropy.html
