One thing in its favor, there was a lot of built-in storage in this small craft closet.
If you don't have a whole room you can convert to a craft studio, a corner of a room or a little-used closet can work quite well.
Having ribbon organized and where you can see it is crucial for quickly converting a bottle of wine into a hostess gift or a stack of pretty notepads into a thank-you. Keeping all your ribbons sorted in one spot makes it seem like you spent hours contemplating, even if you tied a bow on the fly.