Michaels
| Company type | Subsidiary |
|---|---|
| Industry | Retail (arts and crafts) |
| Founded | 1973 in Dallas, Texas, United States |
| Founder | Michael J. Dupey |
| Headquarters | Irving, Texas , United States |
Area served | United States, Canada |
Key people | David Boone (CEO) |
| Products | Arts and crafts supplies, framing, floral, wall décor, DIY home décor |
| Parent | The Michaels Companies |
Michaels Stores, Inc., commonly known as Michaels, stands as a prominent American retailer specializing in arts and crafts, holding the distinction of being North America's foremost supplier of products related to arts, crafts, framing, floral arrangements, wall décor, and DIY home decoration. The company operates as a subsidiary under The Michaels Companies, which was established in 2014 and is based in Irving, Texas. Its operational framework encompasses Michaels retail locations alongside ventures such as Aaron Brothers Custom Framing—a store-within-a-store concept—and Artistree, a producer of custom framing products. Additionally, Michaels offers an extensive range of private labels including Recollections, Studio Décor, Bead Landing, Creatology, and Ashland, broadening its assortment of merchandise.
By January 2021, Michaels managed 1,252 outlets across 49 U.S. states and Canada, achieving revenue near $5.362 billion for the fiscal year 2020. Under the guidance of CEO David Boone, the company emphasizes growth in market share within the arts and crafts retail sector through product diversification and expansion of private-label offerings.
History
The origins of Michaels trace back to 1973 when Michael J. Dupey transformed a struggling Ben Franklin five-and-dime store in Dallas, Texas into an arts and crafts specialty retailer. By 1982, with a network of 11 stores generating roughly $10 million annually, Dallas entrepreneur Sam Wyly acquired majority control. Following this transaction, Dupey launched MJ Designs, which was eventually integrated into The Michaels Companies.
Michaels went public on NASDAQ in 1984 under The Michaels Companies banner with 16 stores operational. Throughout the 1990s, the company expanded via acquisitions including Treasure House Crafts, Oregon Craft & Floral Supply, H&H Craft & Floral, and Leewards Creative Crafts—a chain comprising 101 units. In 1995, it incorporated Aaron Brothers Holdings into its portfolio, a firm specializing in framing and art supplies. By 1996, Michaels had grown to operate 450 stores with sales reaching $1.24 billion.
In 2006, private equity firms Bain Capital and the Blackstone Group acquired Michaels in a $6 billion transaction taking it private. Subsequent initiatives included partnerships like the 2007 launch of "Martha Stewart Crafts," an online platform dedicated to DIY projects. The retailer celebrated the opening of its 1,000th store by 2008 and introduced the Duff Goldman Collection baking line in 2010.
A significant data breach occurred in 2011 affecting debit card terminals across twenty states, leading to customer alerts and a class-action lawsuit. In March 2012, there were announcements for a $500 million initial public offering with JPMorgan Chase and Goldman Sachs spearheading the effort; however, this IPO was postponed indefinitely after CEO John Menzer experienced a stroke.
During Menzer’s recovery period, interim leadership was provided by Bain managing director Lew Klessel alongside Michaels CFO Charles Sonsteby. Chuck Rubin assumed the CEO role in February 2013 bringing leadership experience from Ulta Beauty, Office Depot, and Accenture. Michaels returned to public trading under The Michaels Companies name in June 2014.
Ashley Buchanan—formerly with Walmart—was appointed CEO in 2020. That year marked the debut of a refreshed store format featuring open floor plans with designated "inspiration hubs," maker spaces designed for workshops and classes, and self-service pickup lockers. Plans were made to roll out this new layout across both new builds and store renovations. The Regina location in Saskatchewan became the first Canadian store to implement this concept following its reopening after a fire incident in 2023.
In March 2021, The Michaels Companies was acquired by private equity firm Apollo Global Management for $3.3 billion, transitioning it back into private ownership.
By 2025, Michaels seized growth opportunities arising from the bankruptcy filings of Party City and Jo-Ann Stores by expanding its offerings into party supplies and fabrics—categories previously dominated by these competitors.
Products
Michaels Stores features an extensive selection of arts and crafts merchandise, encompassing scrapbooking, beading, knitting, rubber stamping, home décor, floral arrangements, children’s crafts, paints, framing supplies, greenery, baking essentials, and seasonal items. The company’s strategy highlights private label brands that contribute significantly to its revenue stream. These include names such as Recollections, Studio Decor, Bead Landing, Creatology, Ashland, Celebrate It, Art Minds, Artist's Loft, Craft Smart, Loops & Threads, Make Market, Foamies, LockerLookz, Imagin8, and Sticky Sticks.
In addition to retail products, Michaels offers custom framing services through its Aaron Brothers Custom Framing concept—available both in-store and online. Customers can personalize photo prints by selecting size, surface finish, frames, and mats via the website. This service broadens Michaels’ product portfolio and strengthens its market position within the craft retail sector.
Michaels Marketplace
Introduced in February 2023, Michaels Marketplace is a digital platform created to broaden the range of products available by partnering with third-party vendors. It allows resellers, distributors, and brands to offer mass-produced items such as art materials, yarns, frames, and educational supplies on Michaels.com. Eligibility criteria for sellers include maintaining a legal entity in the U.S., operating a fulfillment center within the country, and generally achieving annual revenues exceeding $1 million. Michaels Marketplace functions independently from MakerPlace by Michaels, which caters specifically to individual artisans selling handcrafted goods.