PEOPLE

Katie Holmes, Jeanne Yang shutter fashion line

Katie Holmes, right, and Jeanne Yang.

NEW YORK — Katie Holmes and celebrity stylist Jeanne Yang knew it would happen one day: They’ve shut down the fashion company they started together.

“It’s a 5-year-old business that they always knew was going to end,” Leslie Sloane-Zelnick, a publicist for the actress, said Thursday.

There was no formal announcement but word first circulated about a month ago.

“They still remain good friends,” Sloane-Zelnick said. “The timing was due to the fact that they have other projects in their lives right now and they live on separate coasts. And this is what they always planned.”

In September, the two were on hand at New York Fashion Week, presenting only 14 spring looks in a Chelsea gallery, but they didn’t show at fashion week last month.

The reason? Closing down Holmes & Yang was “in the works,” Sloane-Zelnick said. “They have different lives now.”