Lily Allen is officially taking a break from her pop singer/songwriter days to launch a record label of her very own: In The Name Of.

Luckily for the Smile singer, Sony is giving her massive support by financially backing this new venture, and she's already signed her first act: a New York boy/girl duo called the Cults.

After a rough 2010, the former face of Chanel has been concentrating on several different ventures, including a clothing boutique she's set up in London (which we're dying to check out).

It's always encouraging to see a smart businesswoman dipping her toes into all aspects of her industry. Way to go Lily!