Kimora Lee Simmons Leissner is set to relaunch Baby Phat later this year after the company was sold to Kellwood Company in 2004.
The 43-year-old fashion designer - who has two children, Ming, 19, and Aoki, 16, with ex-husband Russell Simmons, and Kenzo, nine, with former partner Djimon Hounsou and three-year-old Wolfe with her husband Tim Leissner - took to Instagram to announce that she has repurchased her iconic American apparel streetwear brand and will unveil a new collection later this year.
Kimora first created Baby Phat 20 years ago alongside her ex-husband Russell's' Phat Fashions company, and the star later expanded the hugely-successful womenswear brand into fragrance, footwear, lingerie, children's wear, interiors and accessories when it was sold in 2004 to the Kellwood Company.
Writing on Instagram, Kimora wrote: "Guess who's bizaack... #DontMakeMeHaveToRelapseOnThese.... #HappyInternationationalWomensDay (sic)"
In 2000, Kimora was named creative director of the streetwear label and later was named Chief Executive Officer until 2010 when she parted ways with the brand.
Speaking to WWD, Kimora said: "It's perfect timing for this. Over the past several years, we realised the brand resonates with people and lives deep in their souls."
The fashion mogul launched her own eponymous line in 2013 which she will continue to operate as a separate label from Baby Phat because "one is older than the other".
She added: "They're siblings, but one is older than the other. We're working fast and furiously and have a lot up our sleeves."
The much-anticipated relaunch will see her two daughters Ming and Aoki become part of the company.
Speaking to Bloomberg TV, Kimora added: "It's very important that you have women on both sides: women as the end user, women as the creator. We need to take more of that responsibility and own it."