In addition to raising daughter Suri, 5, Holmes has modeled for retailer Ann Taylor, jeweler H. Stern and fashion house Miu Miu in the past three years, which Lee estimates would have netted Holmes a few million dollars.
Last year, Holmes launched a high-end fashion line, Holmes & Yang with celebrity stylist Jeanne Yang, which is "not a huge business yet." Right now, the line is sold in Barneys New York, Hirshleifer's, Harvey Nichols and Montaigne Market in Paris.
Barneys' website is selling nine items from the line, which range in price from a "Small Foliage Print Cami" top for $350 to a leather "Cropped Moto Jacket" for $3,095.
Many Hollywood watchers believe that Holmes' career may take off after the divorce in the same way Nicole Kidman's career sky-rocketed after that divorce in 2001, weeks before their 10-year anniversary.
But Lee said the situation is very different this time around.
"I think because Tom hadn't really shown the wilder side of himself publicly yet," Lee said.
In 2005, years after his divorce from Kidman, Cruise had his infamous "couch jumping" incident on "The Oprah Winfrey Show" and criticized practices of psychiatry and actress Brooke Shield's drug treatment for postpartum depression. He later apologized to Shields.
Still, Lee said "the divorce is definitely sad on a personal level but it might actually help Katie's career in the long run," if she can get "meaty roles" in smaller films.
"She should follow the trajectory of someone like Joseph Gordon-Levitt who earned his stripes in indie movies and now makes huge films like Inception and Dark Knight Rises," she said.
"But it might take a little while. I think she really needs to build up her acting credibility again," according to Lee.