Jessica Simpson, Nicole Richie

Stephen Lovekin/Getty Images; Jordan Strauss/WireImage

It's practically tabloid law: take two independently established young stars (preferably female), put them together on one project and watch for the claws to come out.

For its part, Us Weekly didn't wait long, reporting this week that Fashion Star mentors and respective one-woman fashion empires Nicole Richie and Jessica Simpson were feuding like crazy and unable to get along on the set of their new NBC reality competition.

But neither of the two women would talk on record about the report. Until now…

Speaking to our E! News pal Ryan Seacrest this morning, Richie addressed the report and wasted no time in flat out denying any tension existed between the two women.

"I'll tell you right now, that couldn't be further from the truth," she said of the report. "I actually love and adore Jessica. I've known her for years, first of all. I already knew who she was as a person. Who she is is someone who's very kind, very sweet and extremely smart, and a great businesswoman and someone I really respect."

Doesn't sound like any hard feelings to us. And rather than holding any grudges against the gossipmongers, Nicole said she gets why the report may exist—despite it being completely untrue.

"I can understand that's probably exciting to read about, but as far as that being the truth, that couldn't be farther from it. I couldn't love someone or respect someone more."

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