Michaels Acquires Joann's Intellectual Property: A New Era for Crafters

Michaels store exterior showing signage for frames, art supplies, and crafts.

Crafting New Opportunities: Michaels Expands With Joann's Legacy

In a significant move that refines its fabric offerings, Michaels has successfully acquired the intellectual property of Joann, a beloved brand in the crafting community. Following Joann's bankruptcy announcement earlier this year, this acquisition brings in cherished labels, including the popular "Big Twist" yarns, which are now set to join Michaels’ expanding portfolio. This strategic development underscores Michaels’ commitment to enhancing its selection for crafting enthusiasts and inviting former Joann customers into their stores.

Why This Acquisition Matters for Hobbyists and Crafters

With Joann’s operational struggles highlighted by sluggish consumer interest and stiff competition, Michaels’ acquisition aims to tap into a new customer base while addressing rising demand. Michaels CEO David Boone stated, "We’re honored to welcome JOANN customers into our creative community." This sentiment reflects a broader trend in the crafting industry where businesses are shifting to community-focused models, recognizing the emotional and social connections these hobbies facilitate.

Engaging with Crafting Communities

Michaels is not just purchasing products; they are stepping into a vibrant community of artisans and crafters. The acquisition supports a shared ambition: expanding the availability of quality materials for sewing, quilting, and knitting. As part of their expansion, Michaels is introducing over 600 new products, including specialty threads and sewing machines—tools that cater to both novice and experienced creators. This approach ensures that crafters of all skill levels can find what they need, fostering creativity and personal expression.

Looking Ahead: What Can Customers Expect?

As Michaels integrates Joann's brands into their offerings, customers can expect seamless access to these familiar labels both in-store and online. The company has also dedicated a landing page to former Joann shoppers, making it easier for them to adapt to this transition. For many, this merger signifies not just a business transaction, but the continuation of a legacy of crafting that has been cherished for decades.

This acquisition is a testament to the resilience of the crafting community, demonstrating that even amid challenges, there are opportunities for growth and innovation. As Michaels embraces this new chapter, it will undoubtedly play a pivotal role in shaping the future of arts and crafts retail.

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Michaels Acquires Joann's Intellectual Property: A New Era for Crafters

Crafting New Opportunities: Michaels Expands With Joann's Legacy

Why This Acquisition Matters for Hobbyists and Crafters

Engaging with Crafting Communities

Looking Ahead: What Can Customers Expect?

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