Luxury CEOs Rave About Chinese Island Where Sales Are ‘On Fire’
- Hainan helping to bolster companies like Tapestry and Capri
- Retailers plan expansion as sales stagnate elsewhere
U.S. luxury retailers, impatient for shoppers to start buying high-end goods again, are turning their gaze to the one place in the world where that’s happening: an island in the South China Sea.
Hainan Island, China’s smallest province, is one of the few tourist destinations on the planet that’s back in full swing as virus-related restrictions squeeze international travel. The revival has caught the attention of executives like Patrice Louvet, chief executive officer of Ralph Lauren.