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Federal Realty Investment Trust is a shopping center-focused retail real estate investment trust that owns high-quality properties in eight of the largest metropolitan markets. Its portfolio includes an interest in 102 properties, which includes 26.8 million square feet of retail space and over 3,100 multifamily units. Federal's retail portfolio includes grocery-anchored centers, superregional centers, power centers, and mixed-use urban centers. Federal Realty has focused on owning assets in highly desirable areas with significant growth, and as a result, the average population density and average median household income are higher for its portfolio than for any other retail REIT.
Vipshop is a leading Chinese online discount retailer offering branded products at attractive discounts ranging from 10%-90% off their original price through daily flash sales. It operates warehousing, retailing, product procurements, software development, and information technology support in-house while outsourcing to third-party logistics providers for distribution and shipments. Branded products on Vipshop's platform are sourced mostly through a consignment model with over 29,000 global partners as of Dec. 31, 2023. As of March 31, 2024, Eric Ya Shen, chairman and CEO, has 63.1% voting rights and a 30.9% stake while Arthur Xiaobo Hong, vice chairman and COO, has a 17.6% stake. Leading Chinese social media firm and strategic shareholder Tencent also holds an 11.8% interest.