No - In 1921 Gillette introduced a razor described as "NEW Improved" (open comb like the "old", pegs to locate the blade like the "old" but a flat blade bed unlike the "old").
In about 1931/32 they introduced another "New" razor (open comb like the "NEW Improved", flat blade bed like the "NEW improved" but a slot to locate the blade unlike the "NEW Improved)