Branded Merchandise Is Booming in the Art World, From Artists to Museums
Through branded products, art museums and artists are doing more to combine retail and appreciation. Do you need proof? Look no further than Elliot Safra's recent ArtNet op-ed titled "Why Artist and Museum Merchandise Is the Next Major Growth Category for the Ever-Expanding Art Market.”
Museums have formed relationships with non-art firms such as Akashi Murakami for timepieces and David Salle for swimwear, according to Safra. Some of these releases have been in the form of ever-popular capsule drops, which play into the streetwear craze of exclusivity generating buzz. It also works.
Some museums have opened multiple boutiques outside of their main locations to provide more gifting alternatives. For example, MoMA has six retail locations and has even expanded into traditional retail sites such as Nordstrom to offer its Design Store products in several locations around the United States.
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