Salma Hayek has called off her engagement to businessman Francois-Henri Pinault, her representative said Friday.

The couple announced their plans to wed in March 2007, and welcomed a daughter, Valentina Paloma Pinault, several months later.

“We are sad to announce the engagement of Salma Hayek and Francois-Henri Pinault has been canceled,” publicist Cari Ross said in a statement. “There will be no further comment.”

The voluptuous 41-year-old, has starred in films such as Frida, Spy Kids 3-D: Game Over and After the Sunset. She is one of the executive producers of ABC’s Ugly Betty and the chief executive of Ventanazul, a production company she formed with Metro-Goldwyn-Mayer Inc.

Pinault is the chief executive officer of the luxury goods company PPR SA, which owns high-end labels such as Gucci, Yves Saint Laurent, Balenciaga and Puma.

No more free designer bags for Salma!