If the words “community play” bring you out in a cold sweat, the Old Vic’s artistic director, Kevin Spacey, is bidding you to think again. Over the next three days, he is throwing open the doors of the theatre to host one such project, Branded. Written by Simon Bent and directed by Matt Wilde, the play takes a cast of 50 aged 16 to 60 from the theatre’s south London neighbourhood to tell the story of the most sought-after pair of trainers on earth. And there’s not an apology in sight.

“This isn’t theatre that is good for you,” Spacey says. “This is theatre that is good to watch. We get returns queues every night now at the Old Vic — and if we get one for Branded we’d love it. It’s a huge community project. We’ve cast it locally with incredibly talented, diverse kids, we’re using multi-media and it’s on a big scale. It’s not just about the Old Vic being a world-famous theatre. We believe it’s a community theatre as well.”

Branded is a story with a message. As the world clamours for this season’s “must have”, the play asks what is the economic, environmental and human cost of high fashion. Or as the team cornily put it: “Who’ll be prepared to sell their soul for a sole?”

The germ of the idea came from talks with teachers, community groups and environmental campaigners to look at the arguments for going green.

Selected schools across the city were chosen to take part in workshops. Then hundreds auditioned for the chance to perform on the historic Old Vic stage.

Bent, whose previous work includes the adaptation of Elling at The Bush, worked with the cast to write 50 different parts, taking advantage of the talents of the recruits — from stilt-walking and hip-hop to contemporary dance. “It really does utilise everyone’s skills,” says producer Steve Winter.

He insists it will be put on to the same degree of professionalism of every Old Vic show, down to its just-closed production of David Mamet’s Speed-the-Plow which Spacey is taking to a festival in Germany. “It has the same feel as any main house production. If you didn’t know it was a community piece, you wouldn’t think it was. It’s not cheesy.”

Tonight until Saturday. Tickets are free but must be reserved (0870 060 6628, www.oldvictheatre.com)