Irving, Texas-based craft store chain, Michaels, has acquired the intellectual property and private label brands of Joann, which filed for bankruptcy in January of this year. Over 800 Joann stores nationwide shut down at the end of last month.

Michaels has endeavored to expand its fabric and sewing assortment in select stores and online over the last several years. This acquisition will add several new brands in these categories to Michaels’ existing lines, as well as new threads, yarns, and sewing machines. Over 600 new products will be added in all.

“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, Chief Executive Officer at Michaels, in the press release. “This acquisition allows us to better serve both new and existing customers, respond to rising demand across categories, and build on our momentum as the destination for creating and celebrating in North America.”

Michaels will now carry Brother and Singer sewing machines, kits from DMC and Loops & Threads, Pellon interfacing, additional products from Clover, Fiskars, Coats & Clark, Velcro, and Oliso irons.

Over the summer, Michaels will begin selling an expanded collection of yarns from Red Heart, Bernat, and Lion Brand. The Joann in-house yarn brand, Big Twist, will be introduced into Michaels stores later this year.

In 2019, Michaels acquired the intellectual property and leases for up to 40 AC Moore stores when that craft chain store shut down. In 2016, Michaels acquired the intellectual property of Hancock Fabrics when that retailer filed for bankruptcy.

Abby Glassenberg

Abby Glassenberg

Co-founder

Abby co-founded Craft Industry Alliance and now serves as its president. She’s a sewing pattern designer, teacher, and journalist. She’s dedicated to creating an outstanding trade association for the crafts industry. Abby lives in Wellesley, Massachusetts.

Pin It on Pinterest

Share This