Sports equipment makers like Nike are spending hundreds of millions of dollars to build a new generation of sneakers and apparel.
But Nike has a different goal: making the NBA an even bigger brand.
The sports apparel maker has purchased more than $100 million worth of gear for the NBA since 2011, when the league was just starting to break into the apparel business.
The latest acquisition, announced Thursday, will add $10 million worth to the Nike family of brands, which includes footwear, apparel and apparel accessories.
In addition to its sports gear, Nike also has its own apparel line, which now has more than 3,000 pieces.
It also owns brands like Nike Dunk Highs, Nike Air Max, and Nike Air Jordan.
The NBA is set to spend $500 million over the next two years on apparel, footwear and accessories.
That’s about half of the league’s $2 billion annual apparel spending.
Nike’s recent acquisition of the NBA has already prompted some criticism from critics who argue the league is overspending and that its teams are underperforming.
Nike’s stock has fallen nearly 50 percent since the announcement.
In an interview on CNN Wednesday, Nike CEO Mark Parker said he’s not worried about the criticism.
“We’re doing the right thing.
We’ve done everything we’ve done to make sure we’re maximizing the opportunities for the teams,” Parker said.