Joann x Michael’s for “The Knit & Sew Shop”

Source: Michael’s

Beloved brand and retailer Joann (formerly Joann Fabrics) went out of business earlier this year and began closing all of its stores leaving many loyal customers without an outlet for their many sewing, knitting, fabric, etc. needs. While it could open up opportunities for local and online businesses, the DIY community was worried about their options.

Well it looks like there may be a solution, and quite a good one.

Another beloved brand and retailer in the DIY space, Michael’s, is reinventing the Joann brand with a store-within-a-store concept called “The Knit & Sew Shop” by Michael’s x Joann.

This new section within Michael’s stores features fabrics, yarn, and all the accessories that go along with those products for folks that need them. The shop also includes some of the Joann private label brands such as Big Twist yarn that was a fan fav. Also of note is that the previous Joann website now redirects to Michaels.com.

Fans are quite happy …

A smart save for this community and for Michael’s who is filling a void and opening up a profit center for their business as well. Smart thinking because they already have the retail footprint so adding these extra products simply increases their revenue per store and likely brings in a new customer base.

From what I understand, Michael’s is also increasing its party supplies to fill another void opened up by the closure of Party City as well. Another smart move to leverage its base, expand its product line, and increase sales and profits making Michael’s even more of a destination.

Perhaps even more than a destination, a solution for the many needs of its community.

What’s your experience? JIM