One of Hollywood's "It" couples has decided to call it quits.

Gigi Hadid and Cody Simpson have ended their relationship to focus on their respective careers.

"Cody and Gigi want each other to be in a place right now that allows him to only focus on his music, fans, and new message, while she can focus and continue building her career," Hadid's rep told E! News. "They love each other dearly and have split up in hopes that growing on their own paths will bring them together in the future."

The statement concluded, "They remain friends with no hard feelings and each other's biggest biggest supporters."

As Simpson makes his mark in the music industry, Hadid has become one of the most in-demand models today. She started her modelling career when she was just 2 years old and started modelling for Baby Guess. She stopped modelling so she can focus on her schoolwork, but she recently made her return to the industry in 2012. She has walked the runway at Fashion Week in London, New York, and Paris this year and back in January, she was named as the newest face of Maybelline.

During a recent interview with Huffpost Live, Simpson said that they both have very busy schedules but are willing to make their relationship work.

"We see each other more than you would expect because we're dedicated to making it work and it's not too stressful," Simpson said. "We try to stay in a bit. We try to stay out of [the spotlight].

He added, "It's hard because she's a model. She's getting photos taken all the time. We just try and stay low."

This isn't the first time that the pair has broken up. The two previously broke up in May 2014, about a year after they first came out as a couple, also reportedly because of their busy schedules.