Shoppers looking for fabric and yarn migrate to Michaels. The craft retail chain is deepening its assortment in these product categories.
The Michaels Companies Inc. announced that it acquired the intellectual property and private label brands of its bankrupt competitor Joann.
Michaels did not respond to a request for comment on how much it paid for the acquisition. Joann filed for bankruptcy in March 2024 and again in January 2025. The brand closed all of its stores at the end of May.
Since the fabric-focused retail chain has shuttered operations, Michaels claims those shoppers have migrated to its brand, which has traditionally focused on craft componentry. Searches for “fabric” on Michaels.com have increased by 77% over the past year, searches for “sewing” has increased 39%, and “yarn” has increased 25%, according to Michaels.
Plus, more consumers are shopping at Michaels stores, according to Placer.ai data, which estimates foot traffic based on a panel of 10s of millions of mobile devices. Stores visits increased 8.2% year over year in April 2025, and increased 7.5% in May 2025, according to Placer.ai.
This acquisition, which includes some of Joanna’s own brands of Big Twist Yarn, Bernat Blanket Yarn, Lion Brand Yarn, will help Michaels cater to shoppers with these interests. What’s more, the retail chain is expanding its assortment by more than 600 products online and to 680 stores, with plans for 280 more stores this year. Michaels has 1,300 stores.
“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,” said CEO David Boone said in a press release.
Michaels.com has a dedicated “Welcome Joann shoppers” landing page for Joann shoppers, which shoppers can navigate to from the main menu on its homepage. The page is a hub of typical Joann products, such as yarn, sewing machines and fabrics.
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