<\/div>\n\n\n\nAs one of the largest arts & crafts providers in North America, Michaels Stores was established in 1973. <\/p>\n\n\n\n
Founder and Texas businessman, Michael J. Dupey, owned and operated a Ben Franklin location, which failed to convert into a store specializing in arts and crafts.<\/p>\n\n\n\n
When Dupey\u2019s Ben Franklin arts & crafts business initiative failed, he decided to establish MJ Designs that was eventually acquired by the publicly traded company, the Michaels Companies.<\/p>\n\n\n\n
In 1984, the Michaels Companies had 16 locations. 10 years later, The Michaels Company acquired multiple arts & crafts stores, including Aaron Brothers Holdings, Inc., in various markets.<\/p>\n\n\n\n
The Michaels Company partnered with arts & crafts guru and American businesswoman, Martha Stewart to launch a DIY website called \u201cMartha Stewart Crafts\u201d in 2010.<\/p>\n\n\n\n
The same year, the company partnered with Chef Duff Goldman to promote his baking products in its land-based stores.<\/p>\n\n\n\n
In 2020, The Michaels Company reported around $5.362 billion in sales. In April 2021, Apollo Global Management acquired The Michaels Company. Following the acquisition, Michaels went private.<\/p>\n\n\n