Michaels Companies Inc. has recently acquired assets from Joann, a fabric and crafts retailer that entered Chapter 11 bankruptcy in January 2025. This acquisition includes Joann’s intellectual property as well as its private label brands, such as the popular Big Twist line, which will now be integrated into Michaels’ extensive product offerings.
In the wake of this acquisition, Michaels is also set to launch a specialized landing page tailored for Joann’s customers, providing them with a handpicked selection of products. This strategic move aims to smoothly transition Joann customers into the Michaels community while enhancing the overall shopping experience.
Furthermore, Michaels is significantly broadening its inventory in fabric, sewing, and yarn, with plans to introduce over 600 new products. This expansion will encompass an array of items, including sewing supplies, quilting materials, specialty threads, fabric, and sewing machines. The company has indicated that additional products will continue to be released throughout the year.
David Boone, CEO of Michaels, expressed excitement about the acquisition, stating, “We’re honored to have the opportunity to welcome Joann customers into our creative community and are committed to delivering the selection, value, and inspiration they are looking for at Michaels.” He highlighted that this acquisition not only allows Michaels to cater better to both new and existing customers but also positions the company to respond to rising demand across various categories, reinforcing its status as a go-to destination for craft enthusiasts in North America.
This acquisition signifies an optimistic growth trajectory for Michaels, reflecting a commitment to creativity and community engagement in the crafting sector. By expanding its product range and welcoming new customers, Michaels aims to further solidify its position in the market while enhancing the overall shopping experience for all art and craft lovers.