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.
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.
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 Michaels.com 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 & @mikegsnider.bsky.social & @mikesnider & msnider@usatoday.com
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