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Tag Archives | AC Moore

Update | MISTI, Project Life, Etsy, Jobs, Events & More!

The post-winter show doldrums sure are over! Lots of companies have been busy with the result being lots of news to share!

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Endings. The Project Life partnership with Stampin’ Up! is ending. Project Life branded products will continue to be sold (while supplies last) through Stampin’ Up! demonstrators until the end of the current catalog year on May 31st, 2017.

Patents. My Sweet Petunia, the manufacturer of the popular MISTI stamping tool, was granted their application for a U.S.MISTI patent on March 21st. The original MISTI tool took the stamping world by storm in 2015 and 2016, and the new Mini and Mega sized versions together won the CHA Hot Products Award for Papercrafting products at the 2016 Mega Show.

The MISTI patent had first been applied for by My Sweet Petunia on January 13th, 2015, but was initially denied in the summer of 2016. The company was able to secure approval of the MISTI patent last month after making a revision of their original patent application.

Winners. Etsy was honored as a finalist in the first-ever “World Changing Ideas Awards” sponsored by Fast Company magazine. The online marketplace for crafters was recognized as one of the top 24 finalists out of over 1000 submissions for the idea “Economic Security for the Gig Economy“, a method of ensuring freelance and self-employed people (like their marketplace participants) have stable access to items like healthcare and retirement savings.

Extensions. Tim Holtz has announced a new line of jewelry products that will be exclusive to Jo-Ann Stores called Tim Holtz Assemblage. The line is in Tim’s signature vintage style, and many elements are recognizable as adapted from metal elements designed for his papercrafts line. The line is available now – at 50% off – on Joann.com.

 

Changes. Megan Hoeppner is leaving her role as Editor-in-Chief of Scrapbook & Cards Today magazine for personal reasons. She will, however, continue with the magazine as its Pic Tips columnist. The Editor-in-Chief position is being filled by Susan Opel, who is familiar to many in the industry from her time at the now-defunct Papercrafts & Scrapbooking magazine.

Megan Hoeppner

Megan Hoeppner (on left) and I together at SNAP Conference in 2016.

Changes, part 2. Etsy has named Rachel Glaser as its new Chief Financial Officer. She replaces Kristina Salen whose intended departure as of March 31st was announced last fall. Glaser will start work on or around June 1st, and Karen Mullane (Vice President, Corporate Controller) will serve as interim CFO. With 30 years of executive experience in finance, Glaser comes to Etsy from Leaf Group, a consumer media and marketplace company whose brands include Society 6, Livestrong.com, ehow.com, cuteness, and Techwalla.

Events. AFCI (formerly known as CHA) is partnering with SPC (Sierra Pacific Crafts) to put on a Mixed Media buying event in Salt Lake City this summer. Education will be on July 17th, and the show floor will be open July 18th though July 20th. Exhibit space is selling fast, and attendee registration opens on April 19th.

Events, part 2. It may feel like you’re barely over your jet lag from this year, but exhibit registration is already open for the 2018 Creativeworld show at Messe Frankfurt in Frankfurt, Germany. Book before April 13th for an early booking discount. More than 130 exhibitors were already signed up as of the end of March, according to Messe Frankfurt.

[Note: Messe Frankfurt and its Creativeworld show are a Scrapbook Update sponsor.]

Considering whether to go for the first time? In case you might have missed them, here’s my show reports from Creativeworld 2017:

Documenting. Ali Edwards has announced that the next “Week in the Life” project will run the week of April 17th. New digital and physical product kits are available for the 2017 project on the Ali Edwards webstore.

Teams. Graphic 45 is skipping their usual design team call for 2017, and instead have announced a group they call the 2017-2018 Graphic 45 Brand Ambassadors. The company promises that the design team call will return in 2018, but for this year, the new team includes lots of returning names from last year, with a few new ones mixed in.

Jobs:

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AC Moore Sold To Crafts Distributor Sbar’s Inc.

Struggling craft chain store AC Moore agreed yesterday to be acquired by arts and crafts distributor Sbar’s Inc for $1.60 per share in cash, approximately $40.8 million. The stock closed on Monday at $.95 per share, but rose to $1.50 after news of the buyout hit the market. The stock has been steadily losing value since hitting a 52 week high in March of $3.56.

The transaction is being financed by Wells Fargo N.A and  is expected to close during the fourth quarter of 2011. After the transaction’s close, AC Moore stock will no longer be publicly owned or traded. Continue Reading →

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