GREENSBORO, N.C., May 10, 2023 /PRNewswire/ -- Tanger® Outlets (NYSE: SKT), a leading operator of upscale open-air outlet centers, will ring the closing bell at the New York Stock Exchange today with its new logo and corporate identity on display throughout the trading floor. May 2023 marks 30 years of Tanger being publicly traded, making this moment a celebration of both the company's respected history and its exciting future.
Since its initial public offering in 1993, Tanger has demonstrated a proven ability to drive value for its shareholders. The company's total equity market value has risen to over $2.1 billion, from just $160 million at the initial public offering. During that same time period, Tanger has distributed over $1.9 billion in common dividends and produced a total return of nearly 1,700%, outperforming the S&P 500.
"Throughout our 30-year history as a public company, Tanger has continuously evolved to meet changing consumer needs while providing robust shareholder returns," said Steven B. Tanger, Executive Chairman and Co-founder. "We are grateful to our loyal team members, our retail partners, our guests, and all our stakeholders who have been part of helping us achieve this incredible milestone for the company."
Stephen Yalof, President and Chief Executive Officer, added, "As we look forward, we recognize that Tanger's centers have become the center of their community, where people go to gather and connect, as well as shop. In order to reflect this place within our communities and Tanger's continued strategy of diversifying our shopping experience beyond just the outlet channel, we have introduced a new logo and visual identity centered around 'Tanger'."
The new visual identity is firmly embedded in Tanger's ongoing transformation of the shopping experience. Alongside its core offerings of iconic retailers, the Tanger of today incorporates an assortment of non-apparel and full-priced retail partners, community activations, and elevated entertainment and dining options.
The refreshed look, dubbed "Open Air," will be rolled out across Tanger's portfolio during the coming year and features elements reflective of Tanger's emphasis on curating a unique outdoor shopping environment for all its guests. As of today, the former "tangeroutlets.com" has changed to "tanger.com" across the company's website and digital signage throughout its 36 centers and Tanger Nashville, which is currently under development.
"Over the past four decades, Tanger has built trust with consumers and retailers, creating strong equity for the Tanger name," said Andrew Wingrove, Executive Vice President and Chief Commercial Officer for Tanger. "As we continue to transform and provide offerings beyond the expected, this visual update is a natural evolution, reflecting an optimistic and modern sensibility for all. We know that's critical to attract and retain our next generation of guests and retailers alike."
In addition to its refreshed visual identity and elevated mix of offerings, Tanger is incorporating additional programming to support its centers' position as a community hub. From environmental activations to holiday programming, Tanger provides unique moments of meaning and connection for guests. The company also continually invests in causes like education and the fight against breast cancer, through initiatives such as its TangerKids, Tanger Pink, and Tanger Hometown Heroes programs, to support the health and well-being of the communities its centers serve.
About Tanger® Outlets
Tanger Factory Outlet Centers, Inc. (NYSE: SKT), a leading operator of upscale open-air outlet centers, fully or partially owns and/or manages a portfolio of 37 centers, including one center under development. Tanger's operating centers, which comprise approximately 14 million square feet, are located in 20 states and in Canada and are leased to over 2,700 stores operated by more than 600 different brand name companies. Tanger has more than 42 years of experience in the outlet industry and has been a publicly traded REIT since 1993. For more information on Tanger, call 1-800-4TANGER or visit tanger.com.