Michaels Completes Acquisition of JOANN Intellectual Property and Expands Product Assortment

The Michaels Companies, Inc. has finalized the acquisition of JOANN's intellectual property and private label brands, including the development of Big Twist® brands. This acquisition leads to the significant expansion of fabric, sewing, and yarn offerings, with over 600 new products added across new and existing brands. The move aims to enhance Michaels' position as the go-to destination for creativity and celebration in North America.

The company plans to increase fabric assortment in over 680 stores, with an additional 280 stores to follow suit. Michaels offers a wide range of fabric options, responding to a 77% increase in searches for 'fabric' on Michaels.com. The company is also expanding its selection of customer-loved sewing brands and increasing its yarn assortment by 25% to meet the growing demand. Michaels is dedicated to welcoming JOANN customers into its creative community, providing a curated assortment of products and updates via a dedicated landing page.

With over 1,300 stores in 49 states and Canada, as well as an online presence, Michaels is committed to fueling the joy of creativity and serving as the ultimate destination for all things creative

Source: PR NewsWire