Joann’s Legacy Lives On: A Brand Transformation at Michaels

By Wyatte Grantham-Philips, AP Business Writer

The Transition of a Crafting Giant

As Joann’s beloved craft labels find a new home at Michaels, the landscape of crafting supplies transforms. With Michaels’ recent acquisition of Joann’s intellectual property and private label brands, the fabric, sewing, and yarn markets are set to experience a refreshing shift.

A Strategic Move by Michaels

Michaels Companies announced on Thursday that they successfully completed a significant purchase of Joann’s assets—a move intended to bolster their offerings in both fabric and crafting supplies. This acquisition comes at a time when consumer demand is on the rise, prompting Michaels to expand its creative portfolio.

“We’re honored to have the opportunity to welcome Joann customers into our creative community,” said Michaels CEO David Boone. His commitment to delivering not just selection but also value and inspiration underscores the company’s strategy of catering to both new and existing customers.

Learn more about Michaels’ offerings here.

Joann’s Journey and Challenges

Founded in 1943, Joann has been a beacon for creative minds—sewers, quilters, knitters, and craft lovers alike—for over eight decades. However, recent operational hurdles—including sluggish consumer demand and increased competition—led the company to announce its closure in February after filing for Chapter 11 bankruptcy protection for the second time in under a year.

During this period, the financial services firm GA Group, alongside Joann’s term lenders, secured the bid to acquire a substantial portion of Joann’s assets, prompting markdowns and going-out-of-business sales across all locations.

What Does This Mean for Consumers?

The transfer of Joann’s cherished brands to Michaels marks a significant evolution in the crafting community. Notably, the acquisition includes the popular “Big Twist” yarns, which are now being integrated into Michaels’ extensive range of products. Shoppers can look forward to seeing these beloved labels available both online and in-stores later this year.

Moreover, to accommodate former Joann customers, Michaels has launched a dedicated landing page, ensuring a seamless transition for those who cherished the Joann experience.

Expanding Horizons: More Products on the Horizon

Michaels has made it clear that this acquisition isn’t just about absorbing a competing brand; it’s about expansion. In addition to the Joann brands, Michaels is introducing over 600 new products across various categories, including:

• Quilting supplies
• Specialty threads
• Sewing machines

This strategic enhancement solidifies Michaels’ commitment to nurturing creativity among its customer base.

Michaels: A Crafting Powerhouse

Since its founding in 1973, Michaels has grown to operate 1,300 stores across 49 U.S. states and Canada. The crafting retailer’s presence in communities, including Dauphin, Cumberland, and Lancaster counties, makes it a formidable player in the crafting supplies arena.

Conclusion: A New Chapter for Crafters

Joann’s exit from the crafting scene marks the end of an era, but the integration into Michaels promises a brighter future brimming with opportunities. As the crafting community evolves, let’s embrace this change and the creative possibilities it brings.

Discover more about Michaels and their expanded offerings here.

In this landscape shaped by change, the spirit of crafting remains unbroken. Let’s celebrate the innovation and creativity that continue to flourish within our communities.