LONDON—Damien Hirst is opening a shop next to Sotheby's on London's Bond Street, reports Bloomberg.

The store is Hirst's second such proposed endeavor: In February it was reported that he was opening a shop on Marylebone High Street that would sell products ranging from books and T-shirts to jewelry.

"In addition to our shop opening in Marylebone, we will be opening a second space next to Sotheby's," Hirst's publishing company, Other Criteria, said in a statement e-mailed last night. "This will be ready by the end of the year and will stock products which are available from the Other Criteria website, www.othercriteria.com."

The announcement comes three weeks before the artist's September 15–16 Sotheby's sale, "Beautiful Inside My Head Forever," an auction of new works expected to bring in more than £65 million ($119.5 million).