Michaels Expands with Key Joann Fabrics IP and Private Label Brands

In 2024, Joann Fabrics filed for bankruptcy. It shocked many of us who love crafting. For years, Joann was the go-to place for fabric, yarn, and sewing supplies. But rising costs, fewer in-store shoppers, and online pressure took a toll. Now, Michaels, the biggest arts and crafts store in North America, is stepping in. They’re not buying Joann’s stores, but they are taking over some of its most valuable parts. That includes Joann’s website, customer data, and private label brands. This Michaels Joann Fabrics move could change the crafting world.