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Last year, a report published in the Harvard Business Review declared that Asian Americans were "the forgotten minority in the glass ceiling conversation." Among its key findings was that while Asian Americans are the most likely to be hired into high-tech jobs, they are also least the likely to be promoted to management and executive positions.
That lack of representation apparently isn't just confined to the tech industry — it's prevalent in other sectors as well. According to Bloomberg Businessweek, Asian American executives were nearly nonexistent on Wall Street in 2018. For example, though Asian Americans made up almost 30 percent of professional employees at Goldman Sachs, only 11 percent of the company's executives were of Asian descent, Bloomberg notes.
In an effort to empower the larger Asian community, serial entrepreneur Bing Chen co-founded Gold House, a nonprofit collective of Asian pioneers in various industries, from fashion to food and beverage. The organization's membership now boasts several established names, including fashion designers Phillip Lim and Prabal Gurung, along with Allure's editor-in-chief Michelle Lee.
"The only thing better than getting a seat at the table is building our own table," Chen told In The Know. "We realized that Asians have a disproportionate success rate in founding businesses that work."
As part of a push to highlight Asian and Pacific Islander brands, Gold House announced on Tuesday that it has sponsored a 48-hour flash sale, or what it calls a "Gold Rush," in which customers can buy from some of the most popular Asian brands at a discounted rate. Notable names include 3.1 Phillip Lim, Prabal Gurung, Dagne Dover and Soko Glam.
"We are such a huge population but underrepresented visually," Lim said.
Photo: Getty Images
From now until November 22 (9 A.M. PST), interested shoppers can use the code GOLDRUSHVIP to get a discount ranging between 15 and 50 percent on certain products. As an added bonus, some of the brands are offering "once-in-a-lifetime" gifts from lifetime discounts to meet-and-greets with the founders. Scroll through a list of several of the brands below (you can find a full list here).