Karlie Kloss Victoria's Secret: Model Leaves Brand At The End Of Her Contract [VIDEO]

Karlie Kloss is saying goodbye to Victoria's Secret.

Short Hair Victoria Secret Model 2013 Karlie Kloss, PHOTOS

After walking in the brand's fashion show for last four years, Kloss has decided to part ways with the lingerie brand.

"Karlie is stepping down from her Angel duties,” a source close to the model told PEOPLE Magazine on Friday. “She’s got a busy but exciting year ahead and the decision came down to timing. She’ll be focusing on her modeling career, new business opportunities and NYU starting in the fall.”

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Kloss began working for Victoria's Secret in 2011, and became an official angel in early 2013. In the years since, Kloss has been the face of several brands, including Jean Paul Gaultier, Nike, Donna Karan, Lancaster and Chanel Coco Noir Fragrance. She's also starred in ad campaigns for designers Donna Karan, Lanvin and Louis Vuitton.

Ed Razek, of Victoria's Secret, confirmed Kloss' exit in a statement to PEOPLE.

“Karlie and I met several months ago to discuss the many things she hoped to do in her life and career. As we talked, it became clear she would not have the time to fulfill her myriad commitments,” he said. “Reluctantly, we agreed she would leave the brand at the end of her contract. Karlie is one of a kind, a very close friend, someone I truly admire and love. She is, without question, one of the best models ever. But she is an even better person. Her future is unlimited, and I am excited to see all the good she will do. Karlie Kloss will always be an Angel to me.”