 |
|
|
|||||
Craft retail chain The Michaels Companies said on Thursday that it has acquired the beloved fabrics retailer Joann, which recently winded down operations and closed all of its stores after a second bankruptcy. The sale included Joanns intellectual property, as well as its private label brands, like Big Twist yarn. The announcement noted that searches for “fabric” on Michaels.com have skyrocketed by 77% since Joann stores began closing their doors in early 2025. As a result, Michaels has already been adjusting its merchandise accordingly to set the stage for absorbing Joann customers. The chain said it has increased merchandise in the fabric category in over 680 stores. ‘Rising demand across categories’ Post-acquisition, Michaels said it will expand on the kinds of merchandise once available at Joanns, such as fabric, yarn, sewing machines, and other sewing materials even further. The craft store will add more than 600 products once available at Joann’s to its inventory, including increasing its yarn merchandise by 25%. “This acquisition allows us to better serve both new and existing customers, respond to rising demand across categories, and build on our momentum as the destination for creating and celebrating in North America,” CEO David Boone said in a statement. Texas-based Michaels has been privately held since a 2021 deal with private equity firm Apollo Global Management, valued at $3.3 billion at the time. The brand has long competed with Joann in many merchandise categories and services such as custom framing. In January 2025, Joann filed for Chapter 11 bankruptcy protection, which was its second in less than one year. Initially, Joann said it would keep stores open during the proceedings. Weeks later, it announced that 500 of its 800 stores would close. The chain closed its last remaining stores in recent weeks. Will Michaels take over former Joann locations? Per Joann bankruptcy filings, Michaels has already taken over at least three leases for what appear to be former Joann stores, but its plans for those leases are unclear. Fast Company reached out to Michaels to confirm whether the chain would be taking over those locations or had plans to acquire additional leases. We will update this post if we hear back.
Category:
E-Commerce
Branded is a weekly column devoted to the intersection of marketing, business, design, and culture. Pride Month is looking a little different this yearat least when it comes to corporate brands. For years, big brands and retailers have broadcast their (at least symbolic) support for the LGBTQ+ community through everything from social media accounts tweaked with rainbow-flag colors to special Pride merch collections and sponsorship of established parades and other events. But in the first year of a second Trump presidency, the administration has expressed noisy hostility toward diversity in general, and as a corporate value specifically. It has been particularly hostile toward the trans community, for example, banning transgender service members from the military and introducing legislation that would curtail gender-affirming healthcare. All this has evidently quieted some businesses Pride participation: A Gravity Research poll found that 39% of hundreds of surveyed companies plan to reduce Pride-related engagement this yearand none planned to increase Pride engagement. A startling 65% reported they were preparing for potential backlash to whatever support they showed. Anecdotal evidence backs up the idea of a more cautious corporate Pride approach. The Wall Street Journal reported that Mastercard, Nissan, and other brands did not continue their sponsorship of the famous New York City Pride March. NYC Pride, which organizes the parade and related events, has said it is facing a budget shortfall this year. As Newsweek recently noted, brands from BMW to NFL teams that have added rainbow visuals to their logos in the past arent doing so this year. Target, which has been known to treat Pride as a major marketing eventa practice that attracted conservative criticism and boycott callsremains an NYC Pride corporate partner. But many on social media have roasted its 2025 Pride collection as bland and defensive. In fairness, Targets collection usually gets some roasting, but this year the theme was its noticeable non-noticeable aestheticprimarily inspired by the color beige, as one review put it. View this post on Instagram A post shared by connor clary (@connor.clary) In a notably blunt example of a brand rethinking its Pride strategy, a leaked Slack message from the pet-toy subscription service BarkBox sought to explain why the company was pausing promotion of its Pride Collection, featuring items such as the Proud Pup Rainbow Tug and Daddy Dolphin toy: Right now, it stated, pushing this promo risks unintentionally sending the message that were not for you to a large portion of our audience, referring to the Pride products as politically charged. This was heavily criticized, and BarkBox CEO Matt Meeker apologized, saying the message doesnt reflect our values, and noting its Pride-themed merch was still very much available. (Earlier, a former Trump attorney complained on social media about receiving Pride-themed BarkBox products; after Meekers apology, she announced that she would cancel her subscription.) View this post on Instagram A post shared by Spencer Meade (@spennyislennie) While a politically polarized atmosphere is clearly playing a role in the apparent tamping down of many brands embrace of Pride, its worth acknowledging that this embrace has always been met with a certain skepticism. The argument that corporate alignment with Pride always had more to do with courting customers than supporting gay or transgender rights is sometimes summarized as rainbow capitalisma largely superficial practice that may have aided LGBTQ+ social acceptance, but did so as essentially a side effect of the profit motive. In fact, recent Pew Research Center polling found that 68% of LGBTQ+ adults (and 54% of non-LGBTQ+ adults) believe that companies promoting Pride Month do so primarily because it helps business. Only 16% and 13%, respectively, believe a genuine desire to celebrate LGBTQ+ people as the prime motivation. (The remainder believe such promotion is the result of pressure to support LGBTQ+ people. About 61% of non-LGBTQ+ Republicans agreed with that, compared to around 30% of Democrats, according to Pew.) In addition to noting companies stated plans to scale back public engagement with Pride this year, the Gravity Research survey noted that most internal initiatives connected to LGBTQ+ rights are continuing. As polarization deepens, brands are favoring lower-profile, internally focused strategies that minimize public exposure while signaling commitment to employees, the report said. The handful of brands sticking with pro-LGBTQ+ messages this Pride Month are winning some praise for positive, productive campaignsfrom Mac cosmetics making a $1 million donation (its largest) to several LGBTQ+-focused nonprofits in connection with a new Kim Petras lip gloss collaboration, to Ikea donating proceeds from certain projects to LGBTQ+ charities and sponsoring the San Francisco Pride Parade, to a Levis collection with a $100,000 donation to nonprofit Outright International, which focuses on LGBTQ+ human rights. The skittishness of their peers just makes these efforts look that much more sincere. And definitely less beige.
Category:
E-Commerce
As LGBTQ+ job seekers navigate a landscape marked by layoffs, economic uncertainty, and a shifting political climate, one question rises to the top: How can I know if a company is genuinely inclusive before I accept this job offer? While many companies show support for LGBTQ+ employees during Pride Month, the true measure of inclusivity is how a company fosters belonging 365 days a year. And the reality is that while some companies may appear inclusive on the surface, the level of genuine inclusion can vary widely from organization to organization. As a career expert who exists at the intersection of Black and LGBTQ+ spaces, Ive seen firsthand the challenges queer professionals face in finding workplaces that truly embrace who we are. LinkedIns Belonging Blueprint, an LGBTQ+ job seekers guide, acknowledges a core truth: theres no one way to be LGBTQ+ at work. Our research finds that only 35% of American LGBTQ+ professionals feel safe bringing their full selves to work, and three in four have code-switched in the workplace. These statistics underscore the fact that many workplaces still have significant work to do when it comes to creating truly inclusive environments. For LGBTQ+ professionals, inclusion isnt just about acceptanceits about being able to show up authentically without hiding important parts of who we are. A 2024 survey by EY found that 40% of American LGBTQ+ professionals have left a job because they felt the workplace was not welcoming. Here are some tips to help evaluate whether a company is truly committed to inclusion before you sign the dotted line. Before You Apply, Understand How You Want to Show Up Before you even start looking at companies, take a moment to think about how you want to show up at work. For some of us, being open about being LGBTQ+ at work is nonnegotiable. For others, especially early in their careers, it may not be the top priority. Your journey and what you need from your work environment will evolve. I wasnt fully out at work until my thirties. More than a decade later, Im married to another man and in the process of becoming a working father, so I need to work in a space where I can bring my authentic self to the tableno questions asked. Ask yourself: What do I need from my workplace to feel supported? This may be the freedom to express your full identity, or the flexibility to focus on other aspects of life, like family planning. Once youve defined your needs, look for companies that align with them. A good place to start is by reviewing the job description. Look for inclusive language like gender-neutral pronouns and references to queer-inclusive parental leave or family planning or employee resource groups (ERGs). These are signs of a company that has put thought into supporting LGBTQ+ employees. Engage Your Network and Read the Signs Friends wont let their gay friends work at anti-LGBTQ+ companies. Tap into your community, LinkedIn connections, or even your personal contacts to get insider insights about the companys culture. While job descriptions may present the shiny version, hearing directly from current or former employees will give you an unfiltered view of what its really like to work there. Research the company the same ways they will research you. Some things to look for: Are there any out LGBTQ+ leaders at the company? Whats the leadership like when it comes to LGBTQ+ issues? Has the company won any awards for LGBTQ+ inclusion? You need to assess whether the companys commitment to inclusion is truly embedded in their culture. Follow the companys website and check out executives on LinkedIn. If you spot executives who are people of color or women, that could signal the companys commitment to inclusive hiring and leadership developmentwhich might indicate opportunities for growth for you as well. Finally, check trusted LGBTQ+ organizations like Stonewall, Human Rights Campaign, or GLAAD; many publish indexes or awards for LGBTQ+ workplace inclusion based on data and proven allyship. This helps distinguish companies that prioritize parades and logos from those that prioritize benefits and career progression. Most Americans work for small to medium-sized companies, so there might not be ERGs, index awards, or a lot of executives to research. But how employers treat employees from other minority groups can be a canary in the coal mine for queer job seekers. A conversation with a Black woman whos worked at a company may be equally as helpful to understanding a companys commitment to inclusion. Ask the Right Questions: What Do You Need from Work? The interview process is not just about proving you’re the right fit for the job; its also about ensuring the job is the right fit for you. Its your chance to test whether the companys commitment to LGBTQ+ inclusion is embedded in their culture year-round, or if its just a seasonal initiative. The interview: Dont be afraid to ask questions during your interview. A good question to ask is: What does LGBTQ+ belonging look like at your company, year-round? A company thats committed to inclusion will have a clear, actionable answer. If they can provide specific examples, like gender-neutral bathrooms, use of pronouns, mentorship programs, diverse panels, or active employee engagement around LGBTQ+ issues, thats a good sign theyre truly invested in inclusivity. If theyre vague or shy away from these topics, it might be time to continue your search. The benefits: A benefits package will tell you a lot about how much a company values its LGBTQ+ employees. Does the company offer gender-affirming care, fertility treatments, or queer-inclusive parental leave? If the benefits package includes support for domestic partners or trans health needs, its a strong indicator theyre serious about inclusivity. If the job offer doesnt make some of these benefits clear, LinkedIns company pages can help you dig in. The big picture: Finally, dont just look at the benefits package, look at how the company has responded to broader LGBTQ+ rights issues. Has the company publicly supported the LGBTQ+ community? Not every company will answer these questions in the most affirming ways, but just thinking them through before you say yes can help you build a better strategy for finding the company that helps you thrive. We all deserve a workplace that appreciates our skills and offers the opportunity to be ourselves, drive impact, and grow. Your well-being and career are too important to settle for anything less.
Category:
E-Commerce
All news |
||||||||||||||||||
|
||||||||||||||||||