US 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.

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