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In a statement, Kering said the decision was mutual, but provided no further details on a timeline for the designer’s replacement.
The move comes as European luxury firms mark a strong sales recovery from the coronavirus crisis, with the industry’s largest players, including Kering, moving past pre-pandemic levels.
“His (Lee’s) singular vision made the house’s heritage relevant for today and put it back to the center of the fashion scene,” said Kering chairman and chief executive officer Francois Henri Pinault.
The 35-year-old Central Saint Martins graduate is credited with raising the profile of the brand known for woven leather products, with popular accessories including soft leather handbags and slip on mules.
Marking the return of in-person, celebrity-packed fashion events, Bottega Veneta took to Detroit last month to show Lee’s spring 2022 collection.
