Bono backs Product Red charity initiative

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Bono - Is supporting the Product Red initiative

Speaking at the launch of the Amex Red credit card, Bono said: "This is really sexy to me. It is sexy to want to change the world. This card is designed to eliminate HIV in Africa."

One per cent of the money that customers spend on the card will go to the Global Fund to Fight AIDS, Tuberculosis and Malaria, which supports almost half a million people who are on AIDS treatment.

Giorgio Armani commented: "An ordinary person can simply walk into a shop and feel that they can participate in helping the needy by simply buying a perfume."

Fashion labels Gap, Armani and Converse will also send a portion of profits to the fund from selected Red-branded goods, which include T-shirts, wraparound sunglasses and training shoes.

The companies said that the scheme could only be successful if it managed to generate money for the businesses which are taking part.

Global Fund Executive Director Richard Feachem said: "Of course, Red will set standards about which brands, which corporations we will welcome into this family. Some could end up being turned down."