michaels craft stores arts and crafts retail chain

Michaels is an arts and crafts retail chain. It currently operates more than 1040 Michaels Arts and Crafts Stores located in 49 U.S. states and in Canada. The company owns and operates the Aaron Brothers retail chain which consists of more than 140 stores. Michaels also produces 10 exclusive private brands including Recollections, Studio Decor, Bead Landing, Creatology, Ashland, Celebrate It, Art Minds, Artist's Loft, Craft Smart and Loops & Threads. The corporate headquarters are located in Irving, Texas. The company employs 12,500 people.
The average Michaels store now contains 40,000 different products in 18,200 square feet (1,700 m²) of selling space. The stores sell a selection of arts, crafts, framing, floral, wall décor, bakeware,beads, scrapbooking and seasonal merchandise for hobbyists and do-it-yourself (DIY) home decorators.
Michaels is the largest such chain in the United States. Competitors include Hobby Lobby, Ben Franklin Stores, Jo-Ann Stores, AC Moore and several smaller chains. Canadian competitors include DeSerres.
Contents
* 1 History
* 2 Products
* 3 Data compromise
* 4 Notes
* 5 External links
History
A location in Halifax, Canada
In 1976, Dallas businessman Michael J. Dupey opened Michael's in the former Northtown Mall in Dallas, Texas. The location closed in the 1990s and is now a technology building.[unreliable source?]
In 1982, Illinois businessman Samuel Wyly bought controlling interest in Michaels; the company's annual revenues were around $10 million at the time of purchase
After the sale, Dupey founded MJ Designs which was later bought out by Michaels.
In 1984, the Michaels chain was first publicly traded. At the time it had 16 stores.
In 1994, Michaels acquired the Treasure House Crafts chain in the Northwest United States.
In 1995, Michaels acquired Aaron's Brothers Holdings, Inc., a specialty framing and art supply store.
In 1996, sales were $1.24 billion and the company opened its 450 store.[4] By 2003, the company's annual sales were in excess of 3 billion dollars.
In 2006, two private equity groups, Bain Capital and the Blackstone Group, purchased the company for $6 billion. The two own equal shares.
Michaels opened its 1000th store in Texas in Fall of 2008.
In 2010, Michaels Arts and Crafts started bringing back a revised class program. These classes include beading, knitting, crocheting, scrapbooking, painting, and cake decorating. In addition, Michaels introduced two monthly do it yourself craft nights allowing customers to bring their projects into the store where Michaels provides tools, supplies, and a workspace for crafting. Bead Night for jewelry makers and Crop Night for the scrapbooker both launched in 2010.
michaels craft stores
michaels craft stores
michaels craft stores
michaels craft stores
michaels craft stores
michaels craft stores
michaels craft stores
michaels craft stores