Bono: Buy "Red" - Fight HIV/AIDS, TB & Malaria

Speaking to world leaders and influencers at the Davos World Economic Forum in Switzerland, Bono announced a new idea that will allow people to buy trendy products and feel good about it.

"So, here we are, fat cats in the snow, and I say that as one," he said to laughs. "It is a great place to do business and we have some business we want to talk to you about."

Revenue from products with the Red brand -- including an AmEx card, shirts, shoes, sunglasses and other bling from Converse, Gap and Giorgio Armani -- will have some of the funds diverted to the Global Fund to Fight AIDS, Tuberculosis and Malaria.

"'Red' will bring a rising income stream ... (and) increased awareness of HIV in Africa and the role of the Global Fund to finance programs to treat it," said the group's executive director, Richard Feachem. "Income from 'Red' will flow to support Global Fund programs in Africa against HIV Aids, especially programs that help women and children."