Michaels
Encyclopedia
ARts
aRts, which stands for analog Real time synthesizer, is an audio framework that is no longer under development. It is best known for previously being used in KDE to simulate an analog synthesizer....
and crafts retail chain. It currently operates more than 1040 Michaels Arts and Crafts Stores located in 49 U.S. states and in Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
. 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
Irving, Texas
Irving is a city located in the U.S. state of Texas within Dallas County. According to the 2010 U.S. Census, the city population was 216,290. Irving is within the Dallas–Plano–Irving metropolitan division of the Dallas–Fort Worth–Arlington metropolitan area, designated...
. 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
Framing
Framing or enframing may refer to:* Framing , the most common carpentry work* Framing or Framing effect , terminology used in communication theory, sociology, and other disciplines where it relates to the construction and presentation of a fact or issue "framed" from a particular perspective*...
, floral, wall décor, bakeware,beads, scrapbooking and seasonal merchandise for hobbyists and do-it-yourself
Do it yourself
Do it yourself is a term used to describe building, modifying, or repairing of something without the aid of experts or professionals...
home decorators.
Michaels is the largest such chain in the United States. Competitors include Hobby Lobby
Hobby Lobby
Hobby Lobby is a privately held retail chain of arts and crafts stores based in Oklahoma City, Oklahoma, and is formally called Hobby Lobby Creative Centers.Founded by David Green on August 3, 1972, the chain has more than 456 stores in 39 states...
, Ben Franklin Stores
Ben Franklin Stores
Ben Franklin Stores are a chain of five and dime discount stores found in small towns throughout the United States currently owned by Promotions Unlimited. They are organized using a franchise system, with individual stores owned by independent proprietors. It was perhaps the first retail...
, Jo-Ann Stores, AC Moore
AC Moore
A.C. Moore is an arts and crafts retail chain with 132 locations in the eastern United States, with its corporate headquarters in located in Berlin, New Jersey. AC Moore sells a variety of arts and crafts products, including scrapbooking, beading, knitting, rubber stamping, home decor items,...
and several smaller chains. Canadian competitors include DeSerres.
History
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
MJ Designs
MJ Designs was an arts and crafts retail store in the Dallas/Fort Worth and Washington, D.C., areas. The company filed Chapter 11 Bankruptcy on December 13, 2002, and went out of business in May 2003.-Products:...
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. By 2003, the company's annual sales were in excess of 3 billion dollars.
In 2006, two private equity groups, Bain Capital
Bain Capital
Bain Capital LLC is a Boston-based private equity firm founded in 1984 by partners from the consulting firm Bain & Company. Originally conceived as an early-stage, growth-oriented investment fund, Bain Capital today manages approximately $65 billion in assets, and its strategies include private...
and the Blackstone Group
Blackstone Group
The Blackstone Group L.P. is an American-based alternative asset management and financial services company that specializes in private equity, real estate, and credit and marketable alternative investment strategies, as well as financial advisory services, such as mergers and acquisitions ,...
, 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 bi-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.
Products
Scrapbooking
Scrapbooking is a method for preserving personal and family history in the form of a scrapbook. Typical memorabilia include photographs, printed media, and artwork. Scrapbook albums are often decorated and frequently contain extensive journaling...
, beading
Beadwork
Beadwork is the art or craft of attaching beads to one another or to cloth, usually by the use of a needle and thread or soft, flexible wire. Most beadwork takes the form of jewelry or other personal adornment, but beads are also used in wall hangings and sculpture.Beadwork techniques are broadly...
, knitting
Knitting
Knitting is a method by which thread or yarn may be turned into cloth or other fine crafts. Knitted fabric consists of consecutive rows of loops, called stitches. As each row progresses, a new loop is pulled through an existing loop. The active stitches are held on a needle until another loop can...
, rubber stamp
Rubber stamp
Rubber stamping, also called stamping, is a craft in which some type of ink made of dye or pigment is applied to an image or pattern that has been carved, molded, laser engraved or vulcanized, onto a sheet of rubber. The rubber is often mounted onto a more stable object such as a wood, brick or an...
ing, home decor items, floral
Flower
A flower, sometimes known as a bloom or blossom, is the reproductive structure found in flowering plants . The biological function of a flower is to effect reproduction, usually by providing a mechanism for the union of sperm with eggs...
items, kids' crafts, paints, framing
Framing
Framing or enframing may refer to:* Framing , the most common carpentry work* Framing or Framing effect , terminology used in communication theory, sociology, and other disciplines where it relates to the construction and presentation of a fact or issue "framed" from a particular perspective*...
, greenery
Greenery
Greenery may refer to:* Any foliage of a plant, either live, freshly cut, or artificial. The term is used in the landscaping, interior design, and florist industries.* A houseplant used for its foliage.* A slang term for marijuana....
, baking
Baking
Baking is the technique of prolonged cooking of food by dry heat acting by convection, and not by radiation, normally in an oven, but also in hot ashes, or on hot stones. It is primarily used for the preparation of bread, cakes, pastries and pies, tarts, quiches, cookies and crackers. Such items...
and many seasonal items. Michaels produces 10 exclusive private brands sold throughout its stores including Recollections, Studio Decor, Bead Landing, Creatology, Ashland, Celebrate It, Art Minds, Artist's Loft, Craft Smart and Loops & Threads. In April 2007, Martha Stewart
Martha Stewart
Martha Stewart is an American business magnate, author, magazine publisher, and television personality. As founder of Martha Stewart Living Omnimedia, she has gained success through a variety of business ventures, encompassing publishing, broadcasting, and merchandising...
teamed up with Michaels to launch a line initially available exclusively at Michaels called "Martha Stewart Crafts." The line features over 650 different products for the craft enthusiast. In May 2010, Michaels was the first retailer to feature Chef Duff's Duff Goldman Collection in its store. The baking line features more than 70 products including fondant, sprinkle sets, color spray, cake tattoos and color paste.
Data compromise
On May 5, 2011, Michaels sent an email alert to its customers revealing that its debit card terminals in 20 states had been compromised. Customers who made PIN-based purchases between February 8 and May 6, 2011 may have had their data exposed. A class actionClass action
In law, a class action, a class suit, or a representative action is a form of lawsuit in which a large group of people collectively bring a claim to court and/or in which a class of defendants is being sued...
lawsuit has been filed against Michaels in the County Court of Passaic, New Jersey
Passaic, New Jersey
Passaic is a city in Passaic County, New Jersey, United States. As of the 2010 United States Census, the city had a total population of 69,781, maintaining its status as the 15th largest municipality in New Jersey with an increase of 1,920 residents from the 2000 Census population of 67,861...
over the incident.