Nicky Hilton Rothschild Is Pregnant, Expecting Third Baby with Husband James Rothschild

Nicky Hilton Rothschild is going to be a mom for the third time, PEOPLE can exclusively confirm

Nicky Hilton Rothschild is expanding her family!

The French Sole fashion designer is pregnant, expecting her third baby with husband James Rothschild, her rep confirmed exclusively to PEOPLE.

Hilton Rothschild and her financier husband, 37, will welcome their third child during the summer of 2022. The sex of the baby is still unknown.

The couple, who tied the knot in the summer of 2015 at Kensington Palace, is already parents to daughters Lily Grace Victoria, 5, and Theodora "Teddy" Marilyn, 4.

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Back in April, the mom of two opened up in a Q&A with childrenswear brand Dotty Dungarees, with whom she collaborated on a collection, about the positives of being home with her little ones during the pandemic.

Hilton Rothschild noted that she has loved spending the extra time with her family: "I strangely liked the not leaving the house for days at a time. There was something so cozy about being locked down with my family. That quality family time was definitely the silver lining of the pandemic."

In February 2020, Hilton Rothschild opened up to PEOPLE about the biggest lesson that she's learned from parenting her daughters: "Patience and being the best version of yourself."

She also got candid about one of the most challenging parts of motherhood.

"I think all moms suffer from mom guilt," she said at the time. "I think we could all do better at that and it's important to still do the things you love. Don't let your children completely take over your life. Navigate that balance and find that balance."

"Whenever I do work trips, I'll feel guilty about leaving the children," she said. "But at the same time, I think it's also setting a good example for your children about working on what you're passionate about. I want to lead by example."

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