In its second-largest acquisition, Amazon buys the company for $970 million.
MuseumTrade.com to be online product source for museum and gift retailers.
MuseumShop.com, an online retailer of products from museums and cultural institutions, this week launched MuseumTrade.com, a private wholesale network for museum and gift retailers and vendors. MuseumTrade.com’s online platform lets pre-qualified museum and cultural product vendors sell items to museum buyers and specialty gift shop buyers without incurring the costs of trade shows or catalog printings. The site hosts “e-booths” maintained by vendors and designed to showcase their wares to qualified buyers.
In addition to saving the cost of trade show attendance, retailers buying merchandise online can save time with a search function that lets them group products by category, exhibition or artist name as well as buying theme, vendor or keyword. Buyers also can create “buy lists” at MuseumTrade.com, which can be transformed into online orders that are sent instantaneously to participating vendors for fulfillment.
“One of the challenges for museum buyers is that they have limited time and travel budgets and often cannot afford to seek out the hottest new vendors from around the world,” says MuseumShop.com founder and president Rebecca Reynolds Moore. “Our mission is to help match the best vendors to museum buyers and to help museums justify the development of new products by creating a sustainable and efficient online distribution channel.”