Mattias Pinkert designed the Klotho.
This is an object that could be conferred the label of "work of art" in some quarters. In that light then, the Klotho is an artistic piece with multiple functions. The object can be used to hang clothes, shoes, coats and a multitude of other thing. Multi-functionality seems to be the name of the game in design right now.
Implications - Many people are in the market for items that have multiple functions. Businesses that provide items that have more than one purpose are great for people who live in smaller spaces or people who are always on the go. People often prefer these types of items because they feel like they get more for their money.