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Tag Archives | Joann’s

Update

JOANN store exteriorMakeover. One of the country’s largest (and at nearly 75 years old, one of its oldest) craft chains is undergoing a rebranding. The company long known as Jo-Ann Stores recently began calling itself “JOANN” in company announcements and has a newly redesigned logo and a fresh new shade of green as its signature color.

In addition to the new cosmetic look, the new JOANN is also engaging in a branding campaign, promoting the hashtag #handmadewithjoann and launching a series of videos about creating and creators.

In addition, JOANN has created a new mobile app that is much more community focused, allowing users to share their own creative projects.

“As shoppers’ behaviors and preferences evolve, we need to adapt the way we connect with them,” said Chris DiTullio, senior vice president, marketing and omni-channel at JOANN. “We’re committed to the longtime loyalists coming in to our stores, as well as the next generation of creators who want to shop, learn and share wherever they are. This app is so exciting because it offers something no other craft retailer does – the ability for customers to confidently share their finished projects with us, and with friends, family and one another as well.”

Partnership. Etsy has announced that it is launching a partnership with Printful that will provide print-on-demand integration to Etsy sellers. This will allow graphic artists to sell on Etsy and have Printful handle the logistics of printing and shipping items like t-shirts, mugs, hats, totes, wall prints, and other items.

“We applaud Etsy on adopting more professional services for their sellers,” says Printful CEO, Davis Siksnans. “Sellers can continue devoting time to their craft while leaving logistics to third-parties like Printful.”

Support. Taylor Swift got support from an unexpected source during the recent trial in Denver over her successful civil suit alleging she was groped by a radio DJ during a fan meet & greet. The offices of Craftsy are right across the street from the Denver courthouse where the trial took place. The Craftsy staff showed their support for Swift during the trial with a series of Post-It note messages on the windows that were clearly visible from the street below. Swift’s unofficial girl squad at Craftsy did not go unnoticed – they received a delivery of flowers and a note of appreciation from the singer on Tuesday after the trial’s conclusion.

Delinquent. The Tennessean reports that on the evening of August 8th, firefighters had to climb to the roof of the Dickson, Tennessee Hobby Lobby store to remove a 15 year old trespasser trying to use the store’s roof as an impromptu skateboard ramp.

Calls. Tombow USA has a call open until September 11th to find members for their 2018 design team.

Jobs. The following craft industry jobs are currently listed as available:

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Update | Kickstarter, Stacy Julian, Merger, Crimes, Jobs & More

Recall. American Crafts is recalling two of the Jane Davenport acrylic paint kits that were sold in Michaels Stores in the U.S. and Canada before June 16th, 2017. Some Jane Davenport Portrait Paints Kit and the Jane Davenport Matte Acrylic Paint Kit may contain some defective paint containers that split and leak during use. Click here for full info on the recall, and contact acinfo@americancrafts.com for information on how to get a refund for your paints if you own the affected kits.

Start-up. Designer Lesley Oman is about to conclude a successful Kickstarter campaign to launch her own stamp company, called Heffy Doodle. Her campaign has raised over $15,000 so far to fund the launch of the new company.

New. Stacy Julian, founding editor of Simple Scrapbooks magazine, has a new product line coming in 2018. The product line, called Story by Stacy, was announced on June 30th at the annual Close To My Heart convention and will be a Close To My Heart exclusive. Julian was associated with a previous product line called Photo Freedom with Echo Park Paper, but it is fitting that she should get a product line with Close To My Heart – she started her scrapbooking career as a consultant with the company in 1993. Follow the Story by Stacy instagram account to keep up to date on the upcoming new line.

Story by Stacy logo

Mergers. Liberty Interactive, the parent company of tv shopping channel QVC, announced on July 6th that it is acquiring QVC the remaining 62% part of competitor HSN that it did not already own. Liberty also owns online retailer zulily, Evite, and interests in several other companies. The deal is expected to close in the fourth quarter of 2017, after which HSN will remain operating in its St. Petersburg, Florida headquarters under the direction of Mike George, CEO of QVC. The move will combine the two eCommerce channels, both of which have strong presences in the craft segment, into the internet’s 3rd largest retailer.

Hoaxes. Like a celebrity death hoax that won’t go away, the viral Facebook post that claims “Hobby Lobby is closing all of its stores” is making the rounds again. No, it’s not true this time either. This go-round was probably triggered by the recent stories about Hobby Lobby facing government penalties over the illegal importation of ancient antiquities.

Crimes. A 46 year old man was arrested in the Hobby Lobby in McAllen, Texas in the evening of July 13th, accused of using his cell phone to take photos up the skirt of a female shopper in the store. The man was charged with making invasive visual recordings, a felony, and released after posting $10,000 bond.

Crimes II. The Joann Fabric & Crafts store in Thousand Oaks, CA reported to police on July 8th that the store had been the target of petty theft and embezzlement for a six month period beginning in January.

Earnings. Etsy will announce its second quarter 2017 financial results after market close on Thursday, August 3rd. These numbers will be being keenly watched by investors, as Etsy has had several rounds of layoffs recently and also launched its new Etsy Studio website for selling craft supplies.

Location. Michaels Stores is increasing its presence in New York City, with plans to build a second Brooklyn store in a new building going up at 1633 E. 16th Street. Michaels has signed a lease for 20,000 square feet on the ground floor of the building, expected to be completed in 2020.

Sneaks. The AFCI trade show in Salt Lake City is over, but the sneak peeks aren’t. Today we did a major new update to the Summer Sneak Peeks page on Scrapbook Update…check it out for all of the latest!

Jobs. The following industry jobs are currently listed as available:

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Update | Michaels, Studio Calico, Jared Leto, Sew Sweetness & More!

Dream Job. For many crafters, the dream job is to get a staff designer position where they get paid to craft to produce project samples all day. Find out from three of Cricut’s staff project designers how they got where they are, and what the job is really like in this fascinating behind the scenes article.

Sizzix Sew Sweetness Box Pouch

 

Designers. Sizzix used Quilt Market last month to announce the launch of their new collaboration with “Sew Sweetness” blogger Sara Lawson. Lawson’s three new Bigz L Dies, which retail for an MSRP of $29.99 each, will launch this month. The three new dies create a box pouch (pictured above), coin purse, or purse tabs. For more information, visit the Sizzix website.

Designers, part 2. Tammy Tutterow has announced a partnership with StencilGirl to make signature stencil designs. The initial release of 9 designs includes 7 two-step stencils that create layered designs such as flowers and plaid.

Exclusives. Joann Fabric & Crafts stores are getting four new exclusive kits to add to their large Project Life offerings. There’s “Lullaby”, a value kit available in boy and girl versions, as well as a recipe card value kit and matching album. There’s also an exclusive core kit called “Modern Wedding”.

Mixed Media. Designer Anna Dabrowska has announced that a selection of products from her popular Finnabair mixed media line made by Prima Marketing is hitting the shelves at Michaels Stores. The selection includes rust paste, patina paste, mixed media essentials, glitter, and more.

Trends. Slime is hot this summer and according to Adweek, the trend is paying off huge for craft brands like Michaels Stores and Elmers that have committed heavily to it. My own local Michaels store has an end cap right by the register area in the seasonal section containing gallon sized containers of Elmer’s along with all sorts of additives and other slime accessories.

Marketing. The wedding market is highly competitive, and content marketing continues to become more and more important. How important? Blogger network Aisle Society has just completed a successful $30,000 Kickstarter campaign to create an online tool to make submitting products and content to their more than 30 top wedding bloggers simpler and more streamlined for companies. The tool, called Matchology, will launch later this month, and cost $69.99 a year to use.

Equity. Kentucky-based Inked Brands – better known to most scrapbookers as Studio Calico – has raised $4 million in Series A equity funding. The equity was raised from BIP Capital, whose portfolio also includes companies like Tropical Smoothie, Huddle, and a variety of technology and health companies. Inked Brands was founded in 2007 by April Foster, and creates products for influencer brands such as Ali Edwards, A Beautiful Mess, Baby Boy Bakery, and Tom Kat Studio in addition to their in-house brand Studio Calico.

Equity, part 2. Digital education platform CreativeLive has raised $25 million in Series C funding from a combination of investors that include GSV Acceleration, Creative Artists Agency, Greylock Partners, Jared Leto, REV, Richard Branson, and Social Capital. (Now there’s a few names I thought this site would never have Google results for…) This raises to $58.8 million the company’s total funding. Part of the new funding will be used to extend CreativeLive more into the enterprise market.

Earnings. Michaels Stores will be reporting its first quarter earnings on Tuesday (June 6th) before market open, followed by a conference call at 8am central time. For information on how to take part in the conference call, visit the Michaels website.

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Jo-Ann Fabric & Crafts Names New CEO

JoannLogoThumbnailJo-Ann Fabric & Crafts has announced that Jill Soltau will be taking over as CEO effective March 2nd. Jim Kerr, the company’s CFO, had been serving as interim CEO since the sudden departure of CEO Travis Smith last August for undisclosed reasons. Jo-Ann’s is owned by private equity company Leonard Green & Partners, L.P.

Soltau is the former CEO of Shopko, having also spent time at Sears, Kohl’s and Carson Pirie Scott during her 25 year career in retail. She had been with Shopko since 2007.

“We are excited to partner with Jill as we continue to build upon Jo-Ann’s leading position in the fabric and craft industry. Jill’s passion, strategic vision and proven success make her an excellent leader for the company going forward,” said Todd Purdy, Partner, Leonard Green & Partners, L.P.

“For over 70 years, Jo-Ann has been inspiring the creativity in others and I am thrilled to join the team to help drive the brand’s future success,” said Ms. Soltau. “Jo-Ann is an industry leader that has exciting opportunities to achieve even greater long-term potential. I look forward to working with the talented management team and dedicated associates to bolster Jo-Ann’s market position and create further enthusiasm for the Jo-Ann brand.”

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Noteworthy | 10.23.2012 – New Releases!

There’s lots of new mid-releases being announced, as we hit that magical time between shows where CHA releases are so “yesterday” already! Here’s a look around the industry at what will be coming to a scrapbook store near you soon:

BasicGrey has two new collections that will be available starting in November exclusively at Jo-Ann Fabric and Craft Stores. “Fact & Fiction” is full of very usable vintage gorgeousness that will be sure to be a hit for the two companies.

Basic Grey Fact Continue Reading →

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Jo-Ann Stores To Go Private In Buyout

Jo-Ann Stores announced today that they have agreed to be acquired by Leonard Green & Partners, L.P., a private equity firm, for approximately $1.6 billion. The $61 per share purchase price is a 34% premium over the company’s trading price at market close on Wednesday.

Leonard Green & Partners is a Los Angeles-based private equity firm with over $9 billion in managed capital. Their retail investments include Whole Foods Market, PETCO Animal Supplies, Sports Authority, The Container Store, David’s Bridal, and Neiman Marcus.

The purchase was approved by a unanimous vote of the company’s board of directors, after a recommendation was made to it by a special committee of independent directors.

Jo-Ann Stores’ lead director and chairman of the Special Committee, Scott Cowen, explained the decision:

After a thorough assessment, the Special Committee and the board of directors concluded that the proposal put forth by Leonard Green & Partners is the best way to maximize value for shareholders, who will receive a substantial and immediate cash premium for their shares. While the company was not actively seeking this transaction, once the offer was received and negotiated, the Special Committee determined that it was in the best interest of the company’s shareholders, as well as its employees and other partners. Leonard Green & Partners has significant expertise in the retail space and is dedicated to cultivating and supporting the growth of Jo-Ann’s business.

The transaction still has to be approved by a vote of Jo-Ann Stores stockholders, and receive regulatory approval. Jo-Ann Stores also holds the right to solicit other competing offers for itself until February 14th, 2011 to ensure its stockholders receive the best deal.

Financing for the transaction will be provided by J.P. Morgan, Bank of America Merrill Lynch and TCW/Crescent Mezzanine.

The buyout of Jo-Ann Stores by a private equity firm will leave the struggling AC Moore as the only major craft chain that is publicly held. Hobby Lobby is family owned, and Michaels is owned by private equity groups Bain and Blackstone (although rumors persist that a public stock offering is in the near future).

Jo-Ann Stores has been growing steadily the past few years, increasingly its sales and improving its financial results, making it an attractive takeover target in a declining retail economy. On December 1st, the company announced its 3rd quarter 2011 sales (quarter ended Oct. 31st). Net sales were up 5.1% over the 3rd quarter of 2010, while same-store sales were up 4.1%. For the nearly-concluded Fiscal 2011 year, the company said it expected to open 30 new stores and close 25 stores. In Fiscal 2012 they are planning even more expansion – anticipating opening 55 to 60 new stores. These numbers are in addition to large numbers of store remodels that are also being done. Online has also been an area of growth for the company, where sales have gone up in double-digit percentages, although the website still accounts for only a tiny portion of the company’s total.

The transaction is expected to be completed in the first half of 2011.

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