Smart acquisitions–especially JOANN’s Big Twist yarn–but for how long? 
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I mean, it’s logical
Weird in that I heard that another company got the Big Twist stuff. Herscheers or something I’m not bothering to look up the correct spelling.
It’s interesting because how much $$$ is in a brand name really? It doesn’t seem like Michael’s is getting inventory or stores? Everything comes from the same factory in China under a different name if it’s Joann’s Fabany or Michael’s Made Market or JHGUIBGGI/GIDRTDVGD/UYOIYTGH on Amazon lol.
It doesn’t make sense to me and reading the article if only seems to mention Joann’s Big Twist which is supposedly already supposed to be owned by someone else? Every other brand mentioned is own stand alone brand DMC, Red Heart, Pellon, Singer etc.
So did Michaels really just pay a ■■■■ ton of money for the domain to point from Joanns to Michael’s for anyone who was sleeping under a rock?
Michael’s is owned by private equity company just like Joann’s was. Employees at Michael’s express the same concerns as Joann’s employees a year or so ago. Lack of hours to be able to stock shelves leads to less inventory being sold and nothing more than another death spiral.
I can’t imagine Michael’s being successful in this while they are also trying to push being the new Party City.
Could be that Michael’s is attempting to build something like Fullbeauty Brands has done with plus size women’s clothing.
Proprietary brands under the FULLBEAUTY Brands umbrella include; Woman Within, Roaman’s, ELOQUII, CUUP, Dia & Co., Jessica London, Ellos, Swimsuits For All, Catherine’s, June +Vie, KingSize, Avenue, Brylane Home and OneStopPlus , an online marketplace offering a curated collection of styles from renowned brands
Each brand is represented on it’s own tab on the website and everything is cross marketed with sales magazines that are sent out (when you are on just one of the brands mailing list).
The items that they sell on Amazon are always at full price compared to their own site where they run the sales.
It might explain why Michael’s has refocused efforts that were being put into MakerPlace.
Joann owned the IP to Big Twist yarn, K+C yarn, Park Lane paper, and many more. I suspect that Michaels is merely highlighting Big Twist because it’s a social media fan favorite and will be most likely to pull loyalists into Michaels.
Big Twist did have a scammer try to copy it (complete with website), and a blogger did seem to intentionally misrepresent its ownership, design, and manufacturing history for it. But Big Twist was entirely owned and designed in-house by Joanns. None of the Big Twist yarn I have ever used was made in China (or Canada, which was also false info floating around); it was all manufactured in Turkey and India, but again, designed by, managed, and owned by Joann in Ohio. It was not a private labelling of generic product situation.
And yes, Michaels is currently owned by the same kind of private equity firm as JOANN’s, with no vested interested in its success, customers, or community–just dolla dolla bills y’all. So like I said, for how long will Michaels “own” any of JOANN’s IP given that it will likely disappear in the next decade, too?
Honestly, if Michaels can replace Party City and Joann, it might actually last a little longer, especially with the anti-Amazon and anti-Temu feelings amongst some diehard customer groups. Maybe.
Finally! They can reduce the amount of green styrofoam balls for flower arrangements to just a quarter of the store, and put some fabrics in. 
Why buy the IP? Because the PE that owns Michaels now has more IP.
Now they just need to find another sucker PE to buy it all from them and… Profit!
To be fair, it does look like Herschnners did also buy some of the Big Twist brand lines, that Michaels only has some of them. And no mention about K+C, Park Lane, or others yet (that I’ve seen).
But yes, PEs only see $$$. And are willing to take some risks to see even more.
If you ever want to do sensory overload on craft ‘stuff’ go to their store during their warehouse clearance sale. My wife and I went a couple times when all her sisters were doing crafts for various craft meets.
I didn’t need a walker back then but after two hours or more my back was about done. Now I would probably need a wheelchair!
"Over 15,000 square feet of craft products on sale, with savings up to 80% off. Mark your calendar now and watch this space for more announcements.
June 11-15, 2025
Doors open 7 AM Wednesday"
Might have to go visit the Grandson at Point next weekend!
My understanding is one of the main things the PE firm did to kill Joann’s was sell the real estate, most of which each store owned. One of many attempts to pick the carcass bf moving on. Wonder if this has or will happen to Michael’s.
As a cotton fabric consumer, I have seen fabric patterns migrate from JoAnn’s Keepsake Calico to Michaels’ Fabric Traditions, they have also had the same patterns on each brand simultaneously. They’ve also carried the same prints from brands like Camelot Fabrics and Robert Kaufman.
Most of the fabrics I use are purchased direct from brands or their wholesalers, but I always needed JoAnn and Michaels from my “Side B” companion fabrics, and for thread so I can match the colors in person.
I’m not sure how the yarn crosses over between the store brands.
It is more than logical, it is a total “no-brainer” assuming the price they paid was reasonable.
Many Michael’s are close to the former Jo-Ann locations, many of the Jo-Ann customers may already be buying from Michael’s. And how many opportunities does Michael’s have to expand their reach?
I am sure that whatever they paid was far less than it cost to launch Makerspace. And the ROI will be superior.
Its all about the Benjamins and it is all it should be about.
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