Michaels, a major arts and crafts supplies chain and home goods store, will soon offer something new on its shelves
following the purchase of Joann fabric’s intellectual property
.
Michaels announced late last week that it had acquired Joann’s intellectual property and private label brands, including the popular Big Twist brand of yarn.
Joann’s brands will also have their own landing page on Michaels’ website at
michaels.com/lp/welcome-joann
.
The Texas-based arts and crafting chain, which has about a dozen stores in Oregon, is working to expand its own fabric, sewing and yarn offerings.
With roots dating back to a single Ohio storefront in 1943, Joann had grown into a destination for generations of sewers, quilters, knitters and lovers of other crafts for more than 80 years. But more recently, operational challenges continued to pile up — with the retailer pointing to sluggish consumer demand, inventory shortages and rising competition.
Joann announced it would be going out of business back in February, just one month after filing for Chapter 11 bankruptcy protection for the second time within a year.
Currently, Michaels does not sell much in fabric or other textile art options, but with this acquisition, the company stated it would expand its fabric, sewing and yarn offerings by adding 600 new products.
Since Joann’s bankruptcy and going-out-of-business sale that began earlier this year, 77% more consumers have been
searching for fabric
on the store’s website,
Michaels.com
, the company reported. Michaels is expanding its fabric assortment in 680 stores and plans to expand to another 280 stores this year. They did not disclose which stores would receive the new fabric inventory first, but fabric would also be made available through the online store.
“From vibrant cottons for quilting to versatile broadcloth for apparel and home décor, every creator now has access to an unparalleled selection of materials to bring their visions to life,” Michaels’ statement said.
Sewing and knitting supplies and materials will also see expansion at Michaels stores. Yarn supplies are set to grow by 25%, with brands such as Loops & Threads available in stores and online. Staple brands at Joann, such as Bernat, Lion Brand, and Red Heart, will also be available this summer at Michaels.
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Where you can soon find Joann fabric’s merch, Big Twist yarn; popular chain will add 600 products
Where you can soon find Joann fabric’s merch, Big Twist yarn; popular chain will add 600 products
Where you can soon find Joann fabric’s merch, Big Twist yarn; popular chain will add 600 products