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Yahoo
6 days ago
- Business
- Yahoo
JOANN Is Making a SURPRISING Comeback and Crafting Fans Are Freaking Out
"Hearst Magazines and Yahoo may earn commission or revenue on some items through these links." After the devastating news hit that all JOANN Stores would be closing, there may be hope for crafters yet. On June 5, Michaels announced that it had acquired the intellectual property and private label brands of its competitor, JOANN. In a bold move to attract the bankrupt fabric and craft retailer's former customers, Michaels will be drastically expanding its fabrics department after seeing a steep increase in interest over the past year. "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," David Boone, Chief Executive Officer at Michaels, explained in a press release. The JOANN website now redirects to Michaels, with a web banner welcoming JOANN customers to the Michaels website. Underneath the banner, buttons direct customers to various crafting and sewing product pages. According to the retailer, searches for "fabric" and "sewing" have seen a 77 percent rise from customers, which has prompted the company to increase its fabric offerings in over 680 stores. There are plans to add more fabrics to an additional 280 stores this year, in addition to expanding its sewing supplies. Online, customers can browse through 10,000 fabric options. The company has also added more than 600 new crafting products to its inventory, including Brother and Singer sewing machines, specialty scissors and thread packs, and needle crafting kits from DMC and Loops & Threads. Products from JOANN's beloved brands, such as Big Twist Value Plus, Big Twist Twinkle, Big Twist Posh, and Big Twist Baby Bear, will be available to shop in-store and online later this year. JOANN, which had been operating in the U.S. since 1943, filed for Chapter 11 bankruptcy in March 2024, before filing for a second time in January 2025. On February 25, 2025, the company announced that it would be closing all of its retail stores. Follow on Instagram and TikTok. You Might Also Like 15 Home Bar Gifts Every Cocktail Enthusiast Will Appreciate 32 Low Light Indoor Plants That Can Survive in the Darkest Corners of Your Home These Are the 50 Best Paint Colors for Your Living Room Sign in to access your portfolio
USA Today
05-06-2025
- Business
- USA Today
Michaels acquires Joann brands: What customers can expect
Michaels acquires Joann brands: What customers can expect Craft retailer Michaels has acquired the intellectual property and private label brands of bankrupt competitor Joann – a move to attract customers who were devoted to the fabric and craft stores. Show Caption Hide Caption Joann Fabrics set to close all 800 stores It's been called the retail apocalypse, and it continues today with news that fabrics outlet Joann Fabrics will shutter all of its approximately 800 locations. Cheddar Michaels is hoping to sew up the business of fans who frequented the fabric and craft chain Joann, which has folded all of its stores after filing for bankruptcy. Michaels has acquired Joann's intellectual property and private label brands – including the Big Twist brands – the craft retailer announced Thursday, June 5. Michaels will expand its fabric, sewing, and yarn assortment by adding more than 600 products including Brother and Singer sewing machines, Oliso Smart Irons and needle crafting kits from DMC and Loops & Threads. "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," said Michaels CEO David Boone in a press release. Aldi: Grocery chain cuts its prices for the summer, up to 33% off 400+ items Michaels unfolds bigger move into fabrics: What customers can expect The Joann's acquisition meshes with Michaels' evolving consumer interests. Over the past year, more customers have been searching on for "fabric" and "sewing," according to the company's announcement. Recently, Michaels has increased the fabric assortment in more than 680 of its stores and plans to do so in 280 additional stores this year, the company said. This month, the retailer, which has more than 1,300 stores in 49 states and Canada, is also expanding its sewing supplies. Also growing: Michaels' yarn assortment – set to increase by 25% this year to meet shoppers' demands. Starting this month, Michaels will begin offering 60 new Loops & Threads yarns in stores and online. This summer, yarn collections from Bernat, Lion Brand and Red Heart will be available. Products from Joann brands such as Big Twist Value Plus, Big Twist Twinkle, Big Twist Posh and Big Twist Baby Bear will be available in-stores and online later this year, according to the company. Joann, which had operated about 800 stores, began closing them after filing for Chapter 11 bankruptcy in January 2025, its second bankruptcy filing in less than a year. Michaels, which began wooing Joann customers in early May, has also created a dedicated landing page for those shoppers to make it easier for them to find products and know the latest updates. "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," Boone said in a statement. Mike Snider is a reporter on USA TODAY's Trending team. You can follow him on Threads, Bluesky, X and email him at mikegsnider & @ & @mikesnider & msnider@ What's everyone talking about? Sign up for our trending newsletter to get the latest news of the day
