Mirror Review
June 6th, 2025
Summary:
- The retail holding company Michaels, acquires Joann brands on June 5th, 2025, including its intellectual property and private label products.
- This move comes after Joann, a long-standing fabric and craft retailer, filed for bankruptcy and closed all its stores.
- Now, Michaels aims to attract Joann’s loyal customer base by integrating these beloved brands and significantly expanding its own offerings in fabric, sewing, and yarn.
What’s Behind the Michaels Joann Brands Acquisition?
The acquisition of Joann brands by Michaels marks a turning point in the creative retail space. Here’s what’s happening:
- Michaels now owns Joann’s popular private label brands, including Big Twist.
- Joann filed for Chapter 11 bankruptcy earlier this year and shut down its operations.
- With this move, Michaels is expanding in key areas like fabric, sewing, and yarn.
- The goal? Meet the rising demand and give former Joann customers a new creative home.
A Welcome Move for the Crafting Community
The acquisition of Joann brands by Michaels now makes Michaels the leading destination for creative supplies in North America.
“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.
To make things easier for Joann shoppers, the company has launched a special page on its website featuring updates and curated product picks. Even Joann’s website now redirects to Michaels.com.
CEO David Boone further stated, “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”.
Big Changes: What’s New at Michaels?
Michaels has observed a huge rise in customer interest for specific crafting categories, such as:
- Searches for “fabric” on Michaels.com have surged by nearly 80% (77-80%) over the past year.
- Searches for “sewing” have increased by approximately 40% (39-40%).
In response, as Michaels acquires Joann assets, the company is rolling out an enhanced product lineup:
- More Products Overall:
- Over 600 new products are being added across various categories.
- Fabric:
- The fabric assortment has been increased in more than 680 Michaels stores, with plans to expand into an additional 280 stores this year.
- Online shoppers can find over 10,000 fabric options.
- Sewing Supplies:
- New Brother and Singer sewing machines will be available.
- The selection will also include Oliso Smart Irons, over 50 new needle crafting kits from DMC and Loops & Threads, and Pellon stabilizers.
- Yarn:
- Michaels is boosting its yarn inventory by 25% this year.
- This includes over 60 new Loops & Threads yarns, available in-store and online starting this month.
- Collections from popular brands like Bernat, Lion Brand, and Red Heart will arrive this summer.
- Products from Joann’s Big Twist brand family (including Value Plus, Twinkle, Posh, and Baby Bear) are being developed under the Michaels portfolio and will be available later this year.
Why This Move Matters for Michaels
This move comes after Joann faced significant financial difficulties, filing for Chapter 11 bankruptcy in January 2025. This is its second such filing in less than a year before ceasing operations.
Moreover, this isn’t the first time Michaels has made a smart move like this. When Party City shut down locations, Michaels expanded its party supplies category.
While Debtwire, a financial consulting firm, added Michaels to its “Retail Distressed Watchlist” due to tariff concerns (as 75% of its suppliers are from China), Michaels remains privately held and does not fully disclose its financials.
Tim Hynes, head of credit research for Debtwire, commented that “Purchasing the Joann intellectual property and private label brands is an inexpensive way for Michaels to expand its product line, as there were probably not many other buyers interested in those assets”.
The Future with Michaels and Former Joann Brands
The “Michaels acquires Joann brands” deal is more than a business move — it’s a fresh start for millions of crafters.
With Joann’s most-loved brands joining Michaels and a massive expansion in Michaels Joann fabrics, sewing, and yarn supplies, shoppers will have even more choices.
This acquisition is all about helping the crafting community stay inspired, well-stocked, and ready to create.
