At the World Economic Forum Annual Meeting 2006 in Davos, Switzerland, Bono announced Product RED, an economic initiative designed to deliver a sustainable flow of private sector money to the Global Fund to Fight AIDS, Tuberculosis and Malaria. Partner companies American Express, Gap and Giorgio Armani have all made a commitment to channel a portion of their profits from sales of specially–designed products to the Global Fund to support AIDS programs for women and children in Africa.

RED presents a new and profitable way of doing business by harnessing the partners’ brand-building expertise while generating a new income stream for the Global Fund. Founding partner American Express and launch partners Gap and Giorgio Armani have designed products that will take on the RED mark and will be available beginning March 1, 2006.

Bobby Shriver, Chief Executive Officer of Product RED, said, “This is a long-term initiative designed for sustainability. RED partners expect that they will broaden their own customer base and increase loyalty in a manner that delivers a sustainable revenue stream to both the company and the Global Fund. It’s incredible to have the marketing brilliance of these companies behind the AIDS emergency.”

Currently, the private sector contributes less than 1% of the Global Fund’s resource needs. RED believes this initiative will start a new income stream, providing an outlet for those consumers who want to “do their bit” on a daily basis but have not yet found a way to do so.

“People see a world out of whack. They see the greatest health crisis in 600 years and they want to do the right thing, but they’re not sure what that is. RED is about doing what you enjoy and doing good at the same time,” said Bono.