Craft retailer Michaels has acquired the intellectual property and private label brands of bankrupt competitor Joann, aiming to attract customers who frequent fabric and craft stores. The acquisition includes Big Twist brands, which will be made available in-store and online later this year.
Michaels plans to expand its fabric, sewing, and yarn assortment by adding over 600 new products, including Brother and Singer sewing machines, Oliso Smart Irons, and needle crafting kits from DMC and Loops & Threads. The company aims to better serve customers with the growing demand for fabric and sewing supplies.
The acquisition follows Michaels’ efforts to increase its fabric assortment in stores and online. This year, the company plans to do so in 280 additional stores, expanding its total fabric offerings by over 1,000 products. Additionally, Michaels’ yarn assortment is expected to grow by 25% this year, with new collections from Bernat, Lion Brand, and Red Heart set to become available.
Michaels CEO David Boone stated that the acquisition will allow the company to better serve customers and build on its momentum as a destination for creating and celebrating in North America. A dedicated landing page has been created to welcome Joann customers into Michaels’ creative community, making it easier for them to find products and stay updated on latest developments.
The move is seen as an effort by Michaels to sew up the business of fans who frequented Joann’s stores before they closed due to bankruptcy. With this acquisition, Michaels aims to provide a wider range of fabric and sewing supplies to meet the growing demand from customers.
Source: https://eu.usatoday.com/story/money/2025/06/05/michaels-buys-joann-fabrics-ip-brands/84048930007