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Katie Holmes's Clothing Line, Holmes & Yang, Is Finished

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Kevin Mazur/WireImage

Katie Holmes can scratch “designer” off her résumé — for now, anyway. After five years of creating a fashion line with her stylist Jeanne Yang, the two have parted ways.

“The Holmes & Yang partnership has ended,” Holmes’s rep confirms.

The pair debuted their first collection in Los Angeles in 2009; they eventually showed a collection at New York Fashion Week in 2012, and their designs were worn by stars including Nicole Richie, Amy Adams and Olivia Wilde. Yang told PEOPLE in February 2013 that the goal of their line was comfort for their customers.

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But the flourishing partnership apparently waned in recent months due to a variety of differences, says a source.

“They have different approaches to absolutely everything: how to run the company, how to promote it and how to handle the press. It is much better that they go their separate ways now,” a source with knowledge of the situation tells PEOPLE. “The conflict isn’t about any one thing, it’s sort of about everything.”

There wasn’t any chatter about the label this year, even though Holmes was spotted on the front row at several collections during this season’s New York Fashion Week.

“Jeanne and Katie have just completely grown apart over the past year or so,” adds the source.

A request for comment from Yang had not been returned.

Are you disappointed to see her line end? Should she start a new one?

–Elaine Aradillas