Michaels has acquired the intellectual property and private label brands of Joann, including Big Twist, following Joann’s Chapter 11 bankruptcy. As part of the move, Michaels is expanding its fabric, sewing, and yarn assortment with over 600 new products and launching a dedicated landing page for Joann customers. The company is also boosting its party supply offerings by 200% starting in August, filling gaps left by competitors like Party City, which is going out of business.
