Tanger owns and operates open-air shopping centers that are made up mostly of brand-name outlet stores. Its business model is to lease out spaces to manufacturers and retailers so they can sell excess inventory directly to shoppers at discount prices. Revenue comes from rental income and associated services from these outlet centers. The company differentiates itself by focusing on outlet-center real estate, being one of the first to list an outlet-only REIT (SKT) and expanding across the United States and Canada with a network of outlet centers. Tanger’s goal is to provide a scalable platform for brands to clear excess inventory while offering consumers access to discounted, high-quality merchandise through a national portfolio of outlet centers, adapting to changes in the retail landscape.
Company Size
501-1,000
Company Stage
IPO
Headquarters
Greensboro, North Carolina
Founded
1981
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