Gap Joins Product Red, A Global Effort Supporting Africa
Gap Inc. a Launch Partner in Business Initiative Founded by Bono and Bobby Shriver to Fight AIDS in Africa, Will Develop Special Clothing Line Collection.
DAVOS, 26 January, 2006 -- Gap Inc. (NYSE:GPS) will deepen its commitment to sustainable economic development in Africa through a new collection of clothing offered by Gap brand inspired by Product RED. The global business initiative announced today by Bono and Bobby Shriver will support The Global Fund in the fight against AIDS in Africa.
In support of RED, Gap is developing a special collection of items to be sold initially in the UK and US markets. The first piece of the collection to debut will be a t-shirt, the most iconic of Gap’s items. The 100% African-made, vintage-style t-shirt will come in red, and a range of other colors, for both men and women. The t-shirt will be available in UK stores in Spring 2006. The enhanced collection will be launched in Fall 2006 – again rooted in classic Gap items, but featuring special details inspired by RED.
“We are thrilled to join Bono and Bobby Shriver in generating excitement around RED,” said Paul Pressler, president and CEO of Gap Inc. “Gap has always been about connecting with what’s culturally relevant, providing great style -- and about making a difference. Aligned with these same tenets, RED provides a unique opportunity for our customers to participate in a critical global effort to support Africa.”
Gap Inc. has committed to contributing a percentage of proceeds from sales of its RED collection to The Global Fund. Other RED launch partners include American Express, Giorgio Armani and Converse.
“As a South African, I am personally very proud of Gap’s involvement in Product RED,” said Andrew Rolfe, president of Gap International who attended the announcement at the World Economic Forum in Davos. “Through all of our RED offerings, we’ll deliver the unique clothing our customers want while supporting the needs of African workers and communities. So, RED is a perfect fit for Gap and I’m pleased that we’re launching our collection in the UK.”
About Gap Inc.
Gap Inc. is a leading international specialty retailer offering clothing, accessories and personal care products for men, women, children and babies under the Gap, Banana Republic and Old Navy brand names. Fiscal 2004 sales were $16.3 billion. Gap Inc. operates about 3,000 stores in the United States, the United Kingdom, Canada, France and Japan. For more information, please visit gapinc.com.
Note to Editors
RED is a global initiative whose primary objective is to engage the private sector in the fight against AIDS in Africa by channelling funds from the sale of RED products directly to the Global Fund To Fight AIDS, Tuberculosis and Malaria. Companies whose products take on the RED mark contribute a portion of profits from the sale of that product to the Global Fund to finance AIDS programmes in Africa, with a focus on women and children. Current partners are: American Express, Converse, Gap and Giorgio Armani.
The Global Fund
The Global Fund is the world’s leading funder of programs to fight AIDS, tuberculosis and malaria. Created in 2002, the Global Fund has committed over $4.5 billion to life-saving programs in 130 countries and accounts for a quarter of the world’s funding for AIDS programs in the developing world (over half for malaria and two-thirds for tuberculosis). Global Fund-financed programs already support nearly half a million people on AIDS treatment, provide over half a million children orphaned by AIDS with medical services, education and community care and reach tens of millions with the knowledge and tools to protect themselves against HIV infection.
The Global Fund is a public-private partnership, governed by representatives of governments, the private sector and civil society from all over the world. It enables countries to design and execute their own programs, but provides funds only on the basis of proven results. It is a lean institution with operating costs of less than 3%, ensuring that resources go directly to where they are needed most.
The Global Fund needs additional resources from all sectors to continue scaling up the support for life-saving work around the world.
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