Published 10-13-00
Submitted by Gap Inc.
Today's launch of the Gap (PRODUCT) RED collection in Gap stores around the world is the company's latest initiative to build on its long-term commitment to social responsibility. Gap will contribute one-half of the profits from the sale of the Gap (PRODUCT) RED line to the Global Fund to help women and children affected by AIDS in Africa.
Over the past decade, Gap Inc. has established a strong track record of investing in economic development opportunities in Africa. The commitment will continue by producing some of the (RED) collection there.
(PRODUCT) RED is an innovative business model created by Bono, U2 singer and activist, and Bobby Shriver, Chairman of DATA (Debt, AIDS, Trade, Africa) to engage the private sector in the fight against AIDS in Africa. The initiative is designed as a new way of doing business that is both socially responsible and profitable.
"We hope that when given a choice, consumers will buy products that have a positive impact on the world," said Dan Henkle, senior vice president of Social Responsibility for Gap Inc. "If this model succeeds, it has the potential to transform business and philanthropy across the globe."
Added Henkle, "Gap has been sourcing products from Africa for the past decade. (PRODUCT) RED allows us to offer our customers great products, which also contribute to economic development through jobs and investment in the health of garment workers."
Much of Gap Inc.'s community investment efforts in Africa have been in Lesotho, a key sourcing market for the company. The garment manufacturing industry is the top employer in the country and has been hit hard by the AIDS pandemic. It is estimated that as many as one in three garment workers in Lesotho are infected. Below are examples of some of the programs Gap Inc. has been involved in to address the health and well-being of the African communities in which the company does business.
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, Old Navy and Forth & Towne brand names. Fiscal 2005 sales were $16.0 billion. Gap Inc. operates about 3,000 stores in the United States, the United Kingdom, Canada, France, Ireland and Japan. For more information, please visit gapinc.com.
Gap Inc. (NYSE: GPS) is a leading global retailer offering clothing, accessories, and personal care products for men, women, children and babies under the Gap, Banana Republic, Old Navy, Piperlime, Athleta and Intermix brands. Fiscal year 2012 net sales were $15.7 billion. Gap Inc. products are available for purchase in more than 90 countries worldwide through about 3,100 company-operated stores, over 300 franchise stores and e-commerce sites. For more information, please visit www.gapinc.com.
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