Michaels Acquires Joann: Expanding Fabric, Sewing, and Yarn Offerings

Michaels Acquires Joann: Expanding Fabric, Sewing, and Yarn Offerings

Michaels has acquired Joann, the former Jo-Ann Fabrics, including its intellectual property and private-label brands. This purchase includes popular yarn lines like Big Twist, previously owned by the bankrupt retailer. Following Joann's bankruptcy announcement earlier this year, Michaels made efforts to attract Joann customers to its stores with aggressive marketing tactics.

Under the ownership of Michaels, Joann's private brands such as Big Twist Value Plus, Twinkle, Posh, and Baby Bear will now be available in Michaels stores and online later this year. Michaels plans to expand its fabric, sewing, and yarn offerings by introducing over 600 new items, including sewing machines from Brother and Singer, Oliso Smart Irons, and needlecraft kits from DMC and Loops & Threads.

The increasing demand for fabric and sewing products has prompted Michaels to enhance its selection in stores across North America. With a significant rise in online searches for fabric and sewing-related items, Michaels aims to cater to both new and existing customers by offering a wide range of crafting supplies. The CEO of Michaels, David Boone, expressed excitement about the acquisition, stating that it will strengthen the company's position as a leading destination for creative enthusiasts.

Michaels has extended a warm welcome to former Joann customers, directing them to a dedicated landing page on its website for Joann-like products such as fabric, sewing, and yarn. With 1,300 locations in 49 US states and Canada, Michaels aims to provide a seamless transition for customers who previously shopped at Joann. Following Joann's closure of all 800 stores in May, Michaels has positioned itself as a go-to destination for crafting essentials and more.

As Michaels continues to expand its product offerings and reach, the acquisition of Joann's intellectual property and private-label brands marks a significant milestone for the craft retailer. With a focus on serving the growing demand for crafting supplies, Michaels is poised to enhance the crafting experience for customers across North America.