NEWS///DAMIEN HIRST DEFYS ECONOMIC SLUMP BY OPENING SECOND RETAIL SHOP IN LONDON
Not only did DAMIEN HIRST, the most controversial and highest paid living figure in the art world redefine how business is done late last year with his groundbreaking Sotheby’s auction, he’s managed to thumb his nose at the world of retail this week by opening a second London shop in the middle of the 21st Century Great Depression:
“Damien Hirst has defied the slump in U.K. consumer spending by opening a second shop in London. Other Criteria, the U.K. artist’s publishing and merchandising company, started the store this week at 14 Hinde Street in the Marylebone district. It sells works including some by Hirst himself ranging from his keyrings at 3.50 pounds ($5) to prints showing pills on mirror glass shelves, from an edition of 125, at 4,000 pounds ($5,800) each.
The first branch of Other Criteria opened in October in Bond Street next to Sotheby’s. The previous month, the auction house staged Hirst’s 111.5 million-pound sale, “Beautiful Inside My Head Forever.” Since then, U.K retailers have suffered in the economic slump. Woolworths Group Plc, MFI Group Ltd. and Zavvi Group were chains that collapsed and closed stores.
“Other Criteria makes objects and books created by artists to an exceptional standard,” said Hirst in an e-mailed statement. “I don’t think art has ever been as popular as it is today and Other Criteria aims to sell affordable art of the highest quality to everyone who wants it.” Click HERE to continue reading…
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