Lookin for Joann Fabrics Coupons ? Find the latest Joann Fabrics Coupons and more. Joann Fabrics Coupons information - Joann Fabrics was founded in 1943 when Hilda and Berthold Reich, and their friends Sigmund and Mathilda Rohrbach, opened an imported cheese store in Cleveland. Eventually, they removed the cheese and added fabrics and opened the first Cleveland Fabric Shop. Expansion in the 1960s led to the company's new name, Jo-Ann Fabrics.In 1999, Jo-Ann Fabrics became a publicly-held corporation traded on the American Stock Exchange under the name of Fabri-Centers of America, Inc. During the 1970s, Jo-Ann Fabrics opened stores in shopping malls; by the 1980s, they left most malls and added crafts and floral. In 1994, the company made its first acquisition of Cloth World, a 342-store southern company; at the time of the acquisition, Fabri-Centers operated 655 stores.