Russell Simmons, Kimora Lee Simmons

Dimitrios Kambouris/WireImage.com

Last week, Kimora Lee Simmons gained a baby daddy. This week, she's losing a husband.

So goes life in the fab lane.

The Baby Phat designer's divorce from media mogul Russell Simmons has, at long last, been finalized, with "dissolution" cited as the final judgment in their amicable parting of ways.

The couple, who tied the knot back in 1998, first announced plans to separate in 2006. In June of last year, Lee gained sole custody of the duo's two daughters, 8-year-old Ming Lee and 6-year-old Aoki Lee, while Simmons was granted healthy visitation rights.

Meanwhile, Lee clearly wasn't waiting for her single status to be formalized before she put herself back on the market.

Last week, E! News confirmed that the 33-year-old former model was expecting her first child with her beau of nearly two years, 44-year-old two-time Oscar nominee Djimon Hounsou.

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