MUMBAI: British singer Cheryl Cole will launch her label later this year and will 'focus all her attention' on the venture, says The Mirror. With this initiative, Cole aims to give young artistes a helping hand into the music business.

The 31-year-old X Factor UK mentor is planning to start a record label firm to give new music artistes a platform to kick-start their careers. And given her judging experience, Cole is expected to have a dab hand at scouting talent for it. The label, due to be launched next year, will be an opportunity for Cole to turn her talent for nurturing young artists into a lucrative business opportunity.

Music industry sources informed The Mirror: “It is a natural next step for Cheryl, having coached contestants for years on The X Factor. She knows what it takes to succeed in the industry from her experience as a performer – both as a solo artiste and as a group, from her years in Girls Aloud.”

Sources also state that the artistes she might be interested in will not just be pop acts; it will cross over all genres. Momentarily Cole has just finished recording her new album. Called ‘Only Human’ will be released towards the end of the year. And after that, she plans to focus all her attention on her label.

There are rumours that music mogul Simon Cowell will try to take some credit for the idea. Back in March, Cowell revealed that he wanted to set her up with her own subsidiary at Sony when she signed her ?1.5 million deal to rejoin The X Factor. He said: “I have said to Cheryl if she wants a label at Sony I would do it in a heartbeat because she is a really good judge of talent. Cheryl got Cher Lloyd into the final – no one else would have done that.”

But Cheryl can prove it was her idea. Because, as far back as 2009 she said: “I would love to have my own label in the future. I would love to be on that side of it, I love hearing new artists, I love choosing songs and developing acts. So that is something I have got planned.”