Michaels has purchased the intellectual property (IP) and private label brands of Joann and will add more than 600 fabric, sewing and yarn products as it seeks to woo this segment of crafting consumers. Joann filed for bankruptcy in January 2025, its second filing in less than a year, and began closing sales at its 790 stores in March 2025. The purchase includes the opportunity to develop Joann’s Big Twist group of brands as part of the Michaels portfolio.
“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,” said David Boone, CEO of Michaels in a statement.
Searches for “fabric” on Michaels.com have increased by 77% over the past year, according to the retailer, and Michaels has made significant investments in the category, increasing assortments in more than 680 stores, with plans to expand in 280 more locations this year.
Michaels has been quick to respond to retail closures among competitors with similar assortments. In April 2025 the retailer expanded its party supplies offerings as it sought to claim customers from the bankrupt Party City.
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