SPRINGFIELD, Mass., Nov. 9 (UPI) — The Smith & Wesson Company — now Smith & Wesson Corp. — has borne the names of its two founders since 1852. If the corporation’s shareholders give their approval, S&W could soon be the American Outdoor Brands Corp.
Chief Executive James Debney announced the proposed name change in January.
“We believe the new name really better reflects our many brands and products and our growth strategy,” a spokeswoman told the Wall Street Journal.
The corporation’s board already approved the new moniker; investors will vote on the new name at a Dec. 13 meeting. If approved, the new name would take effect in January.
The name change will apply only to the holding company. Branding will remain the same for guns manufactured and sold by S&W. The firearms unit of the company will also continue to operate under the traditional name.
“Our new name will represent a broader and more inclusive platform from which to expand into the shooting, hunting, and rugged outdoor markets,” the company wrote in a regulatory filing.
At least in the short term, the company’s moves into the outdoor market at large seems to be paying off. During its last quarter, the company’s profits almost doubled to $33 million.