Yahoo Finance Tanger Expands Partnership with Sephora
Prestige beauty brand will open five stores in Tanger shopping centers later this year, growing and elevating Tanger's beauty and wellness offerings
GREENSBORO, N.C., June 3, 2024 /PRNewswire/ -- Tanger® (NYSE: SKT), a leading owner and operator of outlet and open-air retail shopping destinations, will bring five additional Sephora stores to its shopping centers this year, significantly advancing Tanger's offerings in the beauty and wellness category.
Sephora is the largest prestige beauty retailer in the world. The five new Sephora locations, each averaging approximately 5,000 square feet, will open later this year in Tanger's shopping centers in Charleston, S.C.; Deer Park, N.Y.; National Harbor, Md.; Palm Beach, Fla.; and Phoenix/Glendale, Ariz. Sephora has one existing location at Bridge Street Town Centre, Tanger's premier lifestyle shopping and dining destination in Huntsville, Ala. The store was in operation when Tanger acquired that center in late 2023.
Expanding beauty and wellness offerings is part of Tanger's overall strategy to diversify its portfolio with new brands and categories outside of apparel and footwear that enhance shoppers' experience, including home furnishings, food and beverage, and entertainment. Tanger has leased nearly 200,000 square feet of new-to-portfolio brands since January 2023, including other non-apparel, elevated, and digitally native brands, as the company seeks to attract younger and more affluent shoppers to join the more than 120 million guests who visit Tanger's centers annually.
"We continue to evolve our centers into true destinations by elevating and diversifying the overall brand and category mix across our portfolio, bringing in new, high demand categories and brands to attract the next generation of shoppers," said Stephen Yalof, President and Chief Executive Officer. "The expanded partnership with Sephora is an exciting step in Tanger's growth."
"As the category's leading prestige retail brand, Sephora will bring an elevated and aspirational beauty experience to our centers and enable us to offer our guests a comprehensive suite of price points and products in the beauty category," added Justin Stein, Executive Vice President of Leasing for Tanger. "We believe this will be a very successful partnership for both our companies as Sephora continues to expand its presence with Tanger."
For more information on where to find Sephora and other great new brands at Tanger shopping centers, please visit tanger.com.
About Tanger®
Tanger Inc. (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger's portfolio of 38 outlet centers, one adjacent managed center, and one open-air lifestyle center includes over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S. states and Canada. A publicly traded REIT since 1993, Tanger continues to innovate the retail experience for its shoppers with over 3,000 stores operated by more than 700 different brand name companies. For more information on Tanger, call 1-800-4TANGER or visit tanger.com.
Forward-Looking Statements
This release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, are generally identifiable by use of the words "believe," "expect," "intend," "anticipate," or similar expressions.
These forward-looking statements are based upon the beliefs and expectations of management at the time of this release. You should not rely on forward-looking statements since they involve known and unknown risks and uncertainties which could cause actual results to differ materially from those presented in the forward-looking statements. Please refer to the documents filed by the Company with the SEC, including specifically the "Risk Factors" sections of the Company's Annual Report on Form 10-K for the year ended December 31, 2023, and the Company's other filings with the SEC, which identify additional factors that could cause actual results to differ from those contained in forward-looking statements. The Company does not undertake any obligation to update these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law.
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