Acquisition Details
has acquired 's intellectual property and private label brands, включая популярные пряжа , aiming to expand its product range in fabric, sewing, and crafting supplies.
The acquisition includes over 600 products across various categories, with plans to enhance fabric selections and add new items to Michaels' online store.
Strategic Implications
Michaels aims to serve both new and existing customers by responding to the rising demand for crafting materials, evidenced by a 77% increase in fabric searches on its website.
The transition of Joann's former website to Michaels' platform highlights the strategic move to consolidate customer bases and strengthen Michaels' position as a leading crafting destination in .