Michaels Stores, commonly known as Michaels, is a retail chain specializing in arts and crafts supplies. Founded in 1973, the company is currently headquartered in Irving, Texas, United States. Michaels operates over 1,250 stores across the United States and Canada.

Michaels offers a wide range of products and services, catering to the needs of artists, crafters, and DIY enthusiasts. The company carries an extensive selection of art and craft supplies, including paints, brushes, yarn, fabrics, jewelry-making supplies, floral arrangements, home décor, and seasonal items. Additionally, Michaels offers custom framing services, allowing customers to showcase their artwork or preserve cherished memories.

On a global scale, Michaels primarily operates in the United States and Canada. The company does not have any noteworthy subsidiaries, joint ventures, or partnerships. However, Michaels has established a strong presence in the market, making it one of the largest arts and crafts retail chains in North America.

In terms of market position, Michaels is a market leader in the arts and crafts industry. The company generates significant sales revenue and holds a prominent position amongst its competitors. With its vast store network and diverse product range, Michaels attracts a wide customer base, including hobbyists, artists, and educators.

Throughout its history, Michaels has achieved several milestones and implemented notable changes in its strategy. In 1994, the company went public and became listed on the NASDAQ Stock Market. In 2013, Michaels was acquired by private equity firms Bain Capital and The Blackstone Group.

This change in ownership allowed Michaels to focus on expanding its product assortment and developing its e-commerce capabilities. As of the latest updates, Michaels continues to thrive in the arts and crafts industry. The company has been adapting to changing consumer preferences and has embraced digital initiatives to enhance the customer experience.

Michaels offers online shopping and provides inspiration through its website and social media platforms. Despite the challenges posed by the COVID-19 pandemic, Michaels has demonstrated resilience and remains a trusted destination for arts and crafts supplies. In conclusion, Michaels Stores is a leading arts and crafts retail chain with a comprehensive product range and a strong market position in the United States and Canada.

The company's commitment to providing quality supplies and services has propelled its growth over the years. With its ongoing digital transformation, Michaels is well-positioned to cater to the evolving needs of its customers and maintain its industry leadership