💨 Abstract

Michaels, a large arts and crafting chain, has acquired Joann's intellectual property and private label brands, including popular yarn labels like "Big Twist." This acquisition aims to expand Michaels' fabric, sewing, and yarn offerings to meet increased customer demand. Joann, which ceased operations due to financial difficulties, had been a significant player in the crafts industry for over 80 years.

Courtesy: WTOP Staff