Smith & Wesson has a 164-year legacy as one of America’s most recognized and trusted brands. It’s firearm sales have set records in each of the last 19 months. So why did its stock earnings plunge 90% this quarter? For one simple reason: the management of Smith & Wesson did not understand branding and the value of their brand.

This week, the manufacturer of pistols and rifles decided to change the name of their parent company from Smith & Wesson to quite possibly the most bland, unmemorable and meaningless name ever devised in the history of poor management: “American Outdoor Brands.” Are you excited yet?

One of the reasons given by these branding rocket scientists for this stupefying move was the firm’s product expansion into the camping equipment arena. But this defies logic, as the Smith & Wesson brand has been synonymous with the rugged outdoors since 1852. Would you pay more for authentic Smith & Wesson camping gear, or for the generic name you never heard of… American Outdoor Brands camping gear?

Of course we would pay more for authentic Smith & Wesson gear, as this brand possesses generations of quality manufacturing, family traditions and historical significance. The fabric of this brand is woven into the US military as standard issue to police and armed forces throughout the world, including 800,000 .38 revolvers for the allied troops in WWII.

And what of the brand’s heritage? In 1857 Smith & Wesson created the first practical cartridge revolver, and the .44 Magnum, popularized by the Clint Eastwood “Dirty Harry” films. The Model S&W500 revolver is the biggest, heaviest, most-powerful factory production, double action revolver in the world. And with $903 Million in sales last year, you’d think someone in management at Smith & Wesson would have said – hey, wait a minute…what would it cost to build a brand name like Smith & Wesson that owns global recognition and a 164-year-old legacy – and why are we changing success?

But tragically, that didn’t happen. What did happen is Smith & Wesson’s self-inflicted head wound - probably the worst branding disaster since New Coke.