October 01, 2015 09:30 PM

She’s currently a first-time mom, an actress with two films in the making and the loving wife to Ryan Reynolds. On top of it all, Blake Lively was running her lifestyle brand Preserve.

But after realizing she could no longer juggle her many duties, something had to give. Sadly, her ecommerce website will be shutting down on Oct. 9.

And one day after the announcement, Lively thanked her fans on Instagram and even shared a life lesson she learned.

“Thank you guys for your support every step of the way in the @preserve_us adventure. I couldn’t be more grateful!! One day I’ll stop wearing so many hats,” she punningly captioned a photo of herself modelling several fedoras.

In an interview, the Gossip Girl alum told Vogue.com: “We have an incredible team of people who do beautiful work, but we launched the site before it was ready, and it never caught up to its original mission: It s not making a difference in people s lives, whether superficially or in a meaningful way.”

The mother of 8-month-old daughter James had previously shared that she had prematurely launched Preserve – because of Vogue editor-in-chief Anna Wintour.

“I couldn’t call Anna Wintour and say, ‘I need six more months,'” she told Time in June about moving the launch date earlier to July 2014.

“People hacked into our site a week and a half before it was meant to launch, so the site leaked. The site s not close to what I want it to be. I hope by the time it s what I want it to be, my standards will be raised infinitely more,” she said at the time.

Leading up to the Oct. 9 closing, Preserve is currently having a clearance sale with available items ranging from home decor to clothing.

However, all hope is not lost. Lively says her plan is to rework the site and relaunch on her own time to ensure it matches her original vision.

“I’m not going to continue to chase my tail and continue to put a product out there that we, as a team, are not proud of,” She told Vogue.com.

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