Hirst back on the art market with mugs and keyrings

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The venture follows the opening of his first store, Other Criteria, last autumn. Both shops sell artworks, prints, posters and publications as well as items from keyrings to deckchairs produced by established artists and newcomers.

The new store launches with a £3,000 limited-edition sculpture, Love Is A Bird, Love Is A Burden, in coloured resin by the former Young British Artist Sarah Lucas and Olivier Garbay.

Other gifts for the arts cognoscenti include Hirst pill prints from £4,000, Hirst deckchairs at £300 - or £500 for two - and Hirst signed posters from £195. For the more financially challenged, there are Hirst keyrings at £3.50.

Artists including Jeff Koons, Mat Collishaw and Sir Peter Blake have also produced work including T-shirts from £25 to £45. Hirst, who made his name with a shark pickled in formaldehyde, said of his shop: "Other Criteria makes objects and books created by artists to an exceptional standard.

"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." He has proved a canny businessman. An auction of new works at Sotheby's in September made £111million.

But he has not been immune to the economic downturn, with reports that some of his support staff were made redundant before Christmas. The first Other Criteria is at 36 New Bond Street, and its sibling at 14 Hinde Street.