Tanger Expands Partnership with Sephora

Core Insights - Tanger will open five new Sephora stores in its shopping centers, enhancing its beauty and wellness offerings [1][3][4] - The new Sephora locations will average approximately 5,000 square feet and are set to open in Charleston, S.C.; Deer Park, N.Y.; National Harbor, Md.; Palm Beach, Fla.; and Phoenix/Glendale, Ariz. [3][4] - This expansion aligns with Tanger's strategy to diversify its portfolio beyond apparel and footwear, aiming to attract younger and more affluent shoppers [4][5] Company Strategy - The addition of Sephora stores is part of Tanger's broader strategy to elevate the shopping experience by introducing high-demand brands and categories [4][5] - Since January 2023, Tanger has leased nearly 200,000 square feet to new brands, focusing on non-apparel and digitally native brands [4] - The company aims to transform its centers into destinations that appeal to over 120 million annual visitors [4][5] Market Position - Sephora is recognized as the largest prestige beauty retailer globally, which will enhance the beauty experience at Tanger's centers [3][5] - The partnership with Sephora is expected to be mutually beneficial, providing a comprehensive range of beauty products at various price points [5] Company Overview - Tanger Inc. operates 38 outlet centers and has over 15 million square feet of retail space across 20 U.S. states and Canada [6] - The company has been publicly traded since 1993 and continues to innovate the retail experience with over 3,000 stores from more than 700 brand name companies [6]