Cheryl Cole To Launch Her Record Label: To Take On Simon Cowell?

"The X Factor" judge and singer Cheryl Fernandez-Versini will reportedly set up her own record label later this year. The 31-year-old star will launch her label later this year. Cole plans to "focus all her attention" on the venture, which aims to give young artists a helping hand into the business, reports mirror.co.uk.

"It's a natural next step for Cheryl, having coached contestants for years on 'The X Factor'," a music industry source said.

"She knows what it takes to succeed in the industry from her experience as a performer - both as a solo artist and as a group, from her years in Girls Aloud. She loves music and is really excited about being able to springboard new talent," the source added. Source further added, "At the moment, she has just finished recording her new album.

"Once Only Human has been released - towards the end of the year - she's going to focus all her attention on her label." Way back in 2009, Cheryl Cole said: "I'd love to have my own label in the future. She added, "I would love to be on that side of it, I love hearing new artists, I love choosing songs and developing acts. So that's something I've got planned."