The fabric and crafts store has become a go-to supplier for small businesses selling masks and other homemade items on Etsy, eBay and Shopify during the pandemic. “I spent thousands of dollars last year on supplies at JOANN,” says Hamlin, 46, who often places orders online and picks them up at the store. It is in part riding on the coattails of pandemic winners like Etsy, eBay and Shopify, which have helped small businesses get online quickly at a time when e-commerce is booming. JOANN is likely hoping to be rewarded in a similar manner by investors once it becomes a publicly-traded company. The company, started in 1943 with a single fabric store in Cleveland, Ohio, is going public for the second time.

Source: Forbes March 12, 2021 13:52 UTC