Designer Alexander Wang will be leaving the Balenciaga house nearly three years after he became one of the rare Americans to run an old-school French couture house.

The American media has reported that Balenciaga and its holding company Kering have decided not to renew Wang's contract and his last collection for the house will be unveiled during Paris Fashion Week from September 29-October 7.

Balenciaga has not confirmed the information and Kering said that "discussions were underway" on Wang's contract.

According to WWD, Wang's successor was not likely to be one of the big names in fashion, following changes at Kering's other brand Gucci where Frida Giannini was in January replaced by his right-hand man Alessandro Michele.

Wang is considered one of the most successful American designers of his generation.

The designer who was born in California to Taiwanese parents launched his own label -- a mix of relaxed chic and streetwise edge -- in 2007 when he was just 23.

His arrival at Balenciaga in late 2012 followed the departure of Nicolas Ghesquiere, considered to have made the house very much his own during his 15-year tenure.