Exciting Expansion: Michaels Acquires JOANN Intellectual Property
Michaels is thrilled to embrace JOANN customers by introducing an expanded range of beloved brands and a diverse selection of fabric, sewing, and yarn products, alongside various special offers.
Expansion of Product Offerings
Recently, The Michaels Companies, Inc. proudly announced the successful acquisition of JOANN's intellectual property and private label brands. This acquisition marks a significant evolution for Michaels, as they incorporate the popular Big Twist® brand into their extensive portfolio.
As a part of this initiative, Michaels is set to broaden its fabric, sewing, and yarn assortments by adding over 600 new products. This growth promises to enhance the creative experience for customers, allowing Michaels to stand out as a central hub for creativity and celebration.
Customer-Centric Focus
David Boone, the Chief Executive Officer at Michaels, expressed the joy of welcoming JOANN customers into their creative community. He emphasized the commitment to providing quality selection, inspiration, and value that customers expect from Michaels. This acquisition is a response to the growing demand in various categories and reinforces Michaels' position as the main destination for creativity in North America.
The Fabric Category
Within the past year, searches for 'fabric' on Michaels.com have surged by an impressive 77%. Responding to this demand, Michaels has invested significantly in expanding fabric offerings across over 680 stores, with plans to launch in an additional 280 locations throughout the year. Customers can expect over 10,000 fabric options available online, catering to all kinds of creative projects, including vibrant cottons for quilting and versatile fabrics for apparel and décor.
Sewing Supplies Expansion
Michaels is also refocusing on sewing, which has garnered a 39% increase in search queries on Michaels.com in just one year. To meet this rising interest, they will introduce several new customer-favorite brands starting this month. This includes a variety of new sewing machines from Brother® and SINGER®, plus a fresh batch of more than 50 crafting kits from renowned brands like DMC® and Loops & Threads®.
Yarn Offerings to Meet Demand
In light of the resurgence of interest in knitting and crocheting, Michaels plans to bolster its yarn assortment by 25% this year. From experienced crafters to first-timers, there's something for everyone at Michaels. The introduction of over 60 new Loops & Threads items is already set to be rolled out in stores and online, along with new offerings from other prominent brands like Red Heart® and Lion Brand® this summer.
A Warm Welcome for JOANN Customers
Michaels acknowledges JOANN’s long-held place in the hearts of creators and is dedicated to catering to this vibrant community. To facilitate a smooth transition, Michaels will feature a dedicated landing page showcasing exclusive offers, product updates, and curated selections for JOANN customers.
About The Michaels Companies, Inc.
Established in 1973 and headquartered in Irving, Texas, The Michaels Companies, Inc. remains a leading destination for creativity and celebration. Operating over 1,300 stores across various U.S. states and Canada, Michaels invites customers to explore its extensive selection online at Michaels.com. Additionally, as a parent company to Artistree®, a provider of custom framing solutions, Michaels is committed to fueling creative joy.
Media Contact Information
For media inquiries, please reach out to Erin Pensa for further details.
Frequently Asked Questions
What is the significance of Michaels acquiring JOANN?
This acquisition allows Michaels to broaden its product offerings, integrating JOANN's brands to enhance the creative experience for customers.
How many new products is Michaels adding to its stores?
Michaels is introducing over 600 new products, including a wide array of fabric, sewing, and yarn supplies.
What types of supplies will customers find after the acquisition?
Customers can look forward to an expanded selection of fabrics, sewing machines, crafting kits, and yarn as part of Michaels' enhanced offerings.
How is Michaels addressing growing customer demand?
Michaels is investing in expanding its assortment and making strategic additions to its inventory based on customer search trends.
Where can customers find these new products?
New products will be available both in-stores and online at Michaels.com throughout the year.
