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A Case of "AmnAsia"

Most businesses forget the Asian American market. Is it time to test your memory?

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This story appears in the June 2002 issue of Entrepreneur. Subscribe »

With almost 12 million people in the United States, Asians accounted for $254 billion in purchasing power in 2001, have the highest rate of education, and boast incomes exceeding those of Caucasians by more than $10,000 per household. Still, businesses consistently overlook them. Big mistake.

Not only have Asians become one of the nation's most attractive demographics, but their population is also growing at a rate of 49 percent, with the Vietnamese and Indian populations growing the fastest. Companies like Real Cosmetics are taking note. "There's really a need in the Nordstroms, Macy's and Sephoras of the world for a product that reaches a diverse range," says Lubna Khalid, 28, a Pakistani American ex-model who started her line of cosmetics for Asian and other minority women in 1999. Real Cosmetics launched its high-end cosmetics line in two East Coast Nordstroms in March and expects 2002 sales to exceed $150,000.

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