Kimmora Lee Simmons Baby Phat fashion show runway daughters

Kimora Lee Simmons waves goodbye to Baby Phat. Photo: Yim/WireImage.com

Well, it was "phun" while it lasted...

Model-turned-mogul Kimora Lee Simmons has announced that she will be parting ways with Baby Phat and Phat Fashions effective Sept. 1, E! Online reports.

"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 told the entertainment Website.

"I'm forever dedicated to my family, fans and customers. 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!"

But a look at Simmons' Twitter feed suggests that she wasn't exactly gung-ho about leaving, telling fans that parent company Kellwood "took over" and forced her out.

She also tweeted that her children, who modeled for the label, are also "out with Mommy." Harsh!

The diva also hinted that fans should no longer support Baby Phat, saying, "As Ludacris would say: When I move, you move."

But dry your tears, people. Though Simmons is no longer with the label, she will continue to work on her KLS and Fabulosity brands, as well as her trendy Kouture by Kimora collection for Macy's.

Bottom line: Simmons may have hit a speed bump, but it looks like it's "life in the fab lane" as usual.

In other fashion drama, Madonna has been sued over her Material Girl clothing line.