Tanger Factory Outlet Centers Inc., known by its stock symbol SKT, is a publicly-traded real estate investment trust (REIT) that plays a prominent role in the U.S. retail real estate industry. The company was founded in 1981 by Stanley K. Tanger, demonstrating the vision of creating a new type of retail shopping experience by providing consumers with a way to purchase high-quality, designer goods at discounted prices.
Tanger Inc. specializes in developing, owning, operating and leasing a chain of first-class outlet shopping centers. The business model is unique because it caters to both consumers looking for great deals on designer brands and retailers seeking cost-effective ways to offload surplus inventory. The brand portfolio includes some of the most famous and highly respected fashion industry names, providing an upscale shopping environment for its customers.
The company's headquarters is in Greensboro, North Carolina, and its portfolio includes more than 40 shopping center properties in 20 states and Canada. Tanger Inc. has been a publicly-traded company since 1993, and it’s the first outlet developer to be listed on the New York Stock Exchange as a publicly-traded REIT.
Tanger Inc's business approach places a great deal of emphasis on strategic location selection, ensuring that its centers are conveniently situated for targeted internationals, domestic tourists, and local residents. This strategy has proved successful over the years and has given the outlet shopping movement significant credibility in the retail industry.
The professional property management team at Tanger Inc includes experts in marketing, leasing, asset management, operations, and customer service. They're known for continually striving to provide their tenants with ideally located retail spaces, drive traffic to their stores, and facilitate profitable sales. Likewise, consumers appreciate the company's commitment to offering a broad array of high-quality, high-value merchandise at substantial savings in an attractive, upscale shopping environment.
Underpinning Tanger Inc's success is their commitment to corporate responsibility. They proudly champion various sustainability measures, such as energy-saving initiatives and waste reduction activities. Besides, they prioritize community investment and engagement, exhibiting strong support of local charitable organizations, programs, and events.
Despite the rapidly evolving economic environment and the challenges posed by the rise of online shopping, Tanger Inc. has managed to remain resilient and relevant by continually adapting its business strategy to cater to changing consumer behaviors and retail trends. This adaptability, combined with a strong brand portfolio and commitment to quality, has cemented Tanger Inc. as a significant player in the retail real estate industry.