Kimora Lee Simmons and Baby Phat Parting Ways

Fashion mogul and reality television star is moving on from clothing company she launched 14 years ago

Kimora Lee Simmons is shedding her Baby Phat!

I can exclusively reveal that my Style Network reality star pal is moving on from Baby Phat and Phat Fashions, the fashion house she launched 14 years ago…

I just got word that Simmons and Baby Phat's parent company, Kellwood Company, will go their separate ways as of Sept. 1.

"After 14 years of conceiving and nurturing Baby Phat, it's time for me to move on and further expand my other businesses and create a new phenomenon," Simmons says. "I adore all those who have faithfully been with me since the beginning."

Baby Phat aside, Simmons' empire includes KLS collection, Kouture by Kimora and Fabulosity, among other ventures. Her hit Style Network reality series, Kimora: Life in the Fab Lane, is currently shooting its fourth season.

"I'm forever dedicated to my family, fans and customers," Simmons said. "My inspiration has always come from the fabulous women who have been with me through the years as we've grown from young party girls to power players! We're ready for our next journey together and we're taking a whole new generation of incredible young women with us. Girl power unite!"

Simmons has two daughters, Ming Lee and Aoki Lee, with ex-husband hip-hop impresario Russell Simmons and a son, Kenzo Lee, with her husband, actor Djimon Hounsou.