London, September 22 : Cheryl Cole has decided to set up her own record label to nurture young artists, later this year.

The 31-year-old 'X Factor' judge said that she will "'focus all her attention" on the new business venture, after releasing her new album, which will rival Simon Cowell's record label Syco, the Mirror reported.

Sources added that she loves music and is "really excited" about being able to help new talent from all genres, succeed in the industry.

Cole had previously expressed her desire to have her own label, in 2009. (ANI)