Latest news with #yarn
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The Independent
4 days ago
- Business
- The Independent
Michaels (literally) owns Joann fabrics after craft store buys bankrupt store's property and brands
Michaels now owns Joann - literally. The craft giant cashed in on the demise of Joann, formerly known as Jo-Ann Fabrics, in a recent purchase of its intellectual property and private-label brands. The acquisition, announced Friday, includes the beloved Big Twist line of yarns and other flagship labels from the now- bankrupt retailer. Its latest development in Joann store's bankruptcy announced earlier this year. Joanns announced it would be closing all its stores. Michaels responded with savage posts trying to woo Joann customers to its stores. Now, all Joann's private brands, such as Big Twist Value Plus, Big Twist Twinkle, Big Twist Posh and Big Twist Baby Bear, are now under Michaels' ownership. These products will be available in-store and online later this year. Michaels also plans to expand its fabric, sewing, and yarn offerings by introducing over 600 new items, including sewing machines from Brother and Singer, Oliso Smart Irons, and needlecraft kits from DMC and Loops & Threads. 'Fabric' searches on have jumped 77 percent in the past year while 'sewing' has increased by 39 percent, prompting the company to expand its selection in hundreds of stores and counting, according to a news 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' CEO David Boone said in the release. The release also offers a 'special welcome for JOANN customers,' and directs them to a dedicated landing page on the Michaels website for Joann-like items, including fabric, sewing, and yarn. There are 1,300 Michaels locations across 49 US states and Canada. Joann closed all of its 800 stores in 49 states in May after filing for Chapter 11 bankruptcy for the second time in January. Last month, Michaels' website threaded insult into injury for Joann customers as the latter prepared to be gone for good.
CTV News
7 days ago
- Business
- CTV News
Spinrite closing Listowel store
Teal yarn and a red crochet hook are seen in this undated stock image. (Castorly Stock/ Local crafters may have to shop online or look elsewhere for yarn as a staple of the Listowel community announced it is closing its doors. In a social media post on Tuesday, the Municipality of North Perth responded to news the Spinrite Manufacturing Facility and Retail Store is closing. 'For over 73 years, Spinrite has been an integral part of our community's identity. Spinrite is a valued corporation, a major employer, and a destination for many through its annual yarn sale. This news is shocking, and we recognize the significant impact this will have on individuals, families and the broader community,' the post read. According to the company's website, Spinrite was founded in Listowel in 1952 by David Hay. Their products are sold in many stores, including Walmart, Amazon and Micheals. Their annual yarn sale also hooked avid knitters and crafters, as well as drawing people to the area. This year's event was held online only, with a social media post from the company stating the decision was made due to safety issues at a new location for the popular sale. More than 100 employees affected According to the municipality's post, approximately 140 employees will soon be out of work. 'We have appreciation that some of the administrative, marketing and sales roles will remain in North Perth. I am saddened to learn that the store will also close, though on a timeline different than the factory closure,' Mayor Todd Kasenberg said in the post. The municipality, he added, will be 'assertive' in supporting the affected employees. CTV News has reached out to Spinrite.
Zawya
16-05-2025
- Business
- Zawya
Egypt's Oriental Weavers launches new polyester yarn dyeing unit
Egypt - Oriental Weavers has launched a new polyester yarn dyeing unit at Oriental Weavers International, in the 10th of Ramadan area, with EGP 50 million in total investments, as per an emailed press release. The unit aligns with the company's ongoing efforts to boost production efficiency and improve its ability to meet growing demand. Equipped with modern machinery, the unit has four soft winding machines, a dyeing machine, a rinsing unit, a drying unit, and four final winding machines. Designed to meet approximately 25% of the company's polyester yarn needs, it has a daily production capacity of up to 4.75 tons. It will enable Oriental Weavers to enhance quality control, cut production costs, and respond more swiftly to market demands. The new unit also features high energy and water efficiency compared to traditional dyeing methods, contributing to a reduced carbon footprint across Oriental Weavers' industrial operations. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
13-05-2025
- Business
- Zawya
Oriental Weavers enhances production capacity with new polyester yarn dyeing unit
Cairo – Oriental Weavers, the world's leading manufacturer of woven carpets, is reinforcing its manufacturing capabilities with the launch of a new polyester yarn dyeing unit at Oriental Weavers International, in the 10th of Ramadan area. With total investments of EGP 50 million, this unit aligns with the company's ongoing efforts to improve production efficiency and enhance its ability to meet growing demand, as part of Oriental Weavers' commitment to achieving sustainable growth through improved energy and resource efficiency. Equipped with state-of-the-art machinery—including 4 soft winding machines, 1 dyeing machine, 1 rinsing unit, 1 drying unit, and 4 final winding machines—the unit is designed to meet approximately 25% of the company's polyester yarn needs, with a daily production capacity of up to 4.75 tons. This expansion will enable Oriental Weavers to enhance quality control, reduce production costs, and respond more swiftly to market demands. The new unit also features high energy and water efficiency compared to traditional dyeing methods, contributing to a reduced carbon footprint across Oriental Weavers' industrial operations. Commenting on this strategic move, Ms. Yasmine Khamis, Chair of Oriental Weavers Carpets, stated, ' The launch of this new unit marks a significant milestone in our continued commitment to innovation and market demands. By localizing polyester yarn dyeing, we not only enhance our production capabilities with high-quality products but also strengthen Egypt's manufacturing base and economy. This step ensures our leadership in the global carpet industry, offering superior polyester yarns with enhanced durability, vibrant colors, and exceptional quality' Polyester yarn has become a preferred raw material in carpet manufacturing worldwide due to its superior characteristics—such as excellent dyeability, resilience, luster, and UV resistance. In addition to these technical advantages, the new unit will create nearly 40 new job opportunities, supporting local employment and contributing to industrial development. With manufacturing facilities in both Egypt and the United States, Oriental Weavers continues to expand its production footprint to meet growing demand locally and internationally, reinforcing its position as a global carpet industry leader. About Oriental Weavers Group: The Oriental Weavers Group was founded in 1979 by industrialist and entrepreneur Mohammed Farid Khamis. Listed on the Egyptian Stock Exchange (EGX) since 1997, the Group has grown from a single loom operation to become the largest producer of machine-woven carpets in the world. Drawing from Egypt's rich textile heritage, dating back to c.5000 BC, Oriental Weavers is now a global leader in tufted and jet-printed carpets. Based in Cairo, the Group has manufacturing facilities in the United States and Egypt and distributes its products in over 118 countries. Oriental Weavers is committed to innovative manufacturing processes, inspired by the latest trends, and providing products that are both accessible and of high quality, crafted to deliver lasting value and happiness to its customers.
