In the wake of Joann Inc.’s bankruptcy filing, and with the closure of the craft retailer’s 800+ US stores earlier this year, craft retail leader Michaels has acquired Joann Inc.’s intellectual property and private label brands. This includes Joann’s popular Big Twist yarn products, and showcases Michaels’ attempt to reach a larger customer base looking for fabric, sewing and yarn.
“We’re thrilled to welcome Joann customers into the Michaels creative community,” Michaels’ CEO David Boone stated. “This acquisition gives us the opportunity to better serve both new and existing makers in North America.”
Joann filed for Chapter 11 bankruptcy in January 2025, following a previous restructuring approximately one year earlier. The company indicated ongoing retail difficulty and inventory constraints as contributory factors to its failure. In what appears to be Joann’s final act, the Joann website now redirects users to Michaels.com, where a new landing page has been created to help customers shift its offerings.
Due to increased demand, Michaels has newly expanded their fabric and yarn ranges with over 600 new products and will increase fabric selections in 680 stores and another 280 stores by the end of the year. Michaels’ site searches for fabric were 77 per cent higher in 2022 Vs. 2021, and fabric searches and related sewing searches saw a 39 per cent increase in 2022.
Michaels even more dramatically acquired the Big Twist yarn family, which includes Value Plus, Twinkle, Posh, and Baby Bear, which will return to stores and online in late 2025 under Michaels.
With over 1,300 stores across North America and strong online presence, Michaels is solidifying its position as the source for creative supplies, especially with Joann leaving the retail space.
