Adventures In Retailing – Museum Shuts Down For-Profit Retailer

Two years ago, Boston’s Museum of Fine Arts was the first American museum to create a private company to “run its gift shops, publish its glossy mail-order catalog, and hawk posters, T-shirts, and jewelry on the Internet.” But “with the company losing $2.9 million its first year and $3 million for the fiscal year that ended June 2002, the museum could no longer support it,” and so the company is being closed.