The company said the new name makes more sense as it expands into other businesses—last month, for example, it acquired UST Brands, a camping and survival gear company. The company’s guns will continue to be sold under the Smith & Wesson brand.
The name change is less a repudiation of its heritage, and more of a recognition of its limitations. That’s because two things are true about guns in America:
- People buy a lot of them. There are approximately 350 million firearms in the US, or more guns than people.
- Lots of people don’t own guns. Recent surveys show the number of households with firearms is between 32% and 43%, and has fallen considerably since the early 1990s, when more than half of all households owned guns.