One Direction's Louis Tomlinson is embarking on his own record label under Simon Cowell's Syco label, People reports.

Tomlinson has the full backing of Sony and has already signed his first artist.

Mirror U.K. reports that "X Factor" finalist Jack Walton is the first artist signed under Tomlinson's label. The One Directioner's second act will be a girl band that he's currently holding auditions for.

In a recent interview with the Sun, Tomlinson explained the reason behind wanting to launch his own record label.

"This is something I've wanted to do for some time," he explained. "To be given the opportunity to potentially give new artists a platform is an incredible feeling. I hope to sign some really exciting new artists down the line."

In addition to working on his label, Tomlinson also launched his own media company in January and agreed to appear as a judge for Sony's Be in the Band competition in March.

Tomlinson's business ventures comes as no surprise being that his band mates have previously described him as the most business-savvy member of One Direction.

In a past interview with Billboard, Tomlinson described himself as a perfectionist in the group.

"I have to be kind of be on board with every minor detail and [I'm] quite opinionated," he revealed. "It's quite important for me personally to be involved with the whole project."

The news of Tomlinson's record label comes on heels of his former band mate Zayn Malik announcing his decision to leave One Direction, the Hollywood Life reports.

Though Malik is no longer in the group, Tomlinson has no intention of following suit.

Sources from the Hollywood Life claim that Tomlinson is very dedicated to One Direction. His new record label is just his way of channeling his creative energy in a new way.

"It seems like he's just looking for a new avenue to explore his love of music and discovering new artists!" says the source.