My sister has been thinking about opening a second Etsy shop for fabric and keeping her shop to just planner supplies. I told her: don't do it! She was all like .
If you have multiple Etsy shops you can manage your sales events for all of them under one Etsy On Sale account. To add another shop to your account go to My Shops and click Add another shop. Sign in to Etsy with the credentials for the additional shop you wish to add and authorize access.
Etsy's purpose is to bring buyers and sellers together; by opening an Etsy.. be totally different, but you want a name that won't be confused with another store's.