Sephora broadens coverage to additional Tanger outlet malls
Scoop: Tanger Outlets is Giving Shoppers More Beauty Choices!
Expected to join the shopping scene this year, five new Sephora stores are set to grace Tanger Outlets centers. Each location will span approximately 5,000 square feet as per a recent announcement.
The locations will include:
- Charleston, South Carolina
- Deer Park, New York
- National Harbor, Maryland
- Palm Beach, Florida
- Phoenix, Arizona
Fun fact! Tanger Outlets already boasts a Sephora store in Huntsville, Alabama, rewarding Tanger's late 2023 center acquisition.
Why the beauty expansion? Tanger has been no stranger to adapting to shoppers' desires. In November, the company officially changed its name from "Tanger Factory Outlet Centers" to merely "Tanger" - a shift in line with consumer preferences.
Stephen Yalof, Tanger's CEO, shares why Sephora is a perfect fit in their mix: "As the world's largest prestige beauty retailer, Sephora will draw in an aspirational crowd that desires sought-after brands".
In April, analysts from Bank of America Global Research commended Tanger's successful growth strategies, including its competent asset improvement and long-lasting balance sheet[1]. They expressed support for Tanger's intent to refashion its tenant mix, albeit acknowledging it requires time and resources[1].
Tanger has been working tirelessly to modernize its centers. Focusing on the replacement of underperforming tenants with high-demand retailers, restaurants, and entertainment brands, the company aims to cater to a broader range of shoppers[2]. In addition to Sephora, Tanger markets itself through food, beverage, and experiential retail options to draw larger crowds and increase overall sales[2].
One of Tanger's strategic moves is diversifying its portfolio beyond outlet centers and into open-air lifestyle centers. Recent acquisitions include Bridge Street Town Centre and Pinecrest, offering a hybrid shopping experience[1]. Combining conventional outlet stores with mixed-use elements like restaurants, hotels and entertainment venues, these locations cater to diverse tastes[1].
So, while you're bagging deals at Tanger Outlets, you can also browse through Sephora, indulging in the latest beauty trends! How cool is that?
- Tanger's strategy for growth includes refashioning its tenant mix, which includes the addition of high-demand retailers like Sephora.
- Analysts from Bank of America Global Research have commended Tanger's successful growth strategies, including competent asset improvement and a long-lasting balance sheet.
- In April, analysts also expressed support for Tanger's intent to refashion its tenant mix, although they acknowledged that it requires time and resources.
- The world's largest prestige beauty retailer, Sephora, will draw in an aspirational crowd that desires sought-after brands, according to Tanger's CEO, Stephen Yalof.
- Tanger has been working tirelessly to modernize its centers by focusing on the replacement of underperforming tenants with popular retailers, restaurants, and entertainment brands.
- In line with consumer preferences, Tanger has changed its name from "Tanger Factory Outlet Centers" to merely "Tanger".
- As AI and finance continue to evolve, it's possible to expect similar strategies by businesses in other industries, such as entertainment or lifestyle, to adapt to shoppers' desires.
