In his now-deleted Instagram post, Kanye West displayed a picture of the "fake" shoes in question and wrote that his loyal fans would never buy shoes whose authenticity is in doubt.

The termination of the contract caused Kanye to lose his billionaire status as his wealth "only" reached 400 million US dollars when their partnership ended, according to Forbes. This is because Kanye's deal with Adidas earned him around 1.5 billion US dollars from his net worth.

In May 2023, Adidas filed, and then promptly withdrew, a federal lawsuit against West aimed at freezing the $75 million US dollars owned by the Yeezy brand. Adidas and West are still embroiled in a private arbitration dispute where Adidas claims West's "offensive behavior" has caused damage to the partnership.

"Previously, Kanye and Adidas had launched the Yeezy Sneaker in 2015 and generated sales of 1.3 billion pounds sterling in 2020. adidas CEO, Bjorn Gulden, refused to destroy Yeezy sneakers and stated that they are currently 'trying to avoid it'."

Since terminating its business relationship with Kanye West, Adidas is known to have suffered losses of up to 700 million euros, with Yeezy products worth hundreds of millions of euros recorded as unsold. Quoted from CNN, Adidas revealed on February 9, 2023, that they were estimated to lose $1.3 billion (around Rp19.7 trillion) in revenue that year. Adidas is also suing Kanye for Rp3.9 trillion, and the details of the lawsuit are not yet known. Source: Liputan6.com.