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yesterday

Michaels Completes Acquisition of Joann Brands and Bolsters Fabric, Sewing Lines

Michaels is funneling Joann website visitors to a dedicated landing page to guide former customers toward its expanded fabric offerings.

Michaels is increasing its assortment of fabrics for quilting, apparel and home decor.
The Michaels corporate logo is displayed on a sign at their store on January 31, 2025 in San Diego, California. The crafts retailer announced it has acquired the intellectual property of Joann, which filed for bankruptcy earlier this year. 
FILE - In this April 24, 2020 file photo, customers lineup outside a Michaels store in Houston. (AP Photo/David J. Phillip, File)
Michaels

Overview

  • Michaels finalized the acquisition of Joann’s intellectual property and private label brands, including rights to its Big Twist yarn and fabric lines.
  • The retailer added more than 600 new SKUs and broadened fabric, sewing and yarn assortments to 680 of its 1,300 stores with plans for 280 additional rollouts by year-end.
  • Joann’s website now redirects to Michaels, which has launched a dedicated landing page for former Joann customers.
  • Michaels intends to launch Joann’s Big Twist Value Plus, Big Twist Twinkle, Big Twist Posh and Big Twist Baby Bear collections in stores and online later this year.
  • Debtwire placed Michaels on its Retail Distressed Watchlist due to tariff-related supply chain pressures stemming from its reliance on Chinese suppliers.