American Express, Converse, Gap and Giorgio Armani are joining with Bono to sell products under a new brand, called “Red”, which will dedicate some of its revenues to fight Aids in Africa. Read the article here.
Some interesting highlights include:
- Bono owns the "Red" brand and insisted that partners see it as a money-making venture. “We said you had to make money, because if you don’t make money, you won’t want to invest.”
- AmEx has agreed to contribute 1% back for "Red" card purchases.
- The program is similar to the "pink" products that benefit Komen. Red products available this spring will include Converse sports shoes made with African mud-cloth; a new line of Gap vintage-style T-shirts, in red and other colours and wraparound Emporio Armani sunglasses embossed with a Red logo.
- Star power was a key reason why AmEx signed on. "AmexCo decided the rock star’s idea would help it 'create pull', attracting educated, affluent consumers without spending much on direct mail or television advertising." They figure that what they don't spend on advertising will easily pay for the kickback to fight AIDS in Africa.