Don’t be fooled by Katy Perry’s green hair and vaguely cartoonish dress sense – she may just turn out to be a savvy entrepreneur. This past Tuesday, the singer unveiled her biggest business venture to date – a record company, called Metamorphosis Music. The new label is a joint venture with the company Perry is under, Capitol Records.

Katy Perry
Katy Perry, seen her channeling her inner Xenon, is climbing up the music business ladder.

The first artist to find a home at Metamorphosis is singer Ferras, who has been Perry’s opening act on her worldwide Prismatic Tour. Tuesday was a big day for the 29-year-old performer, since his second, self-titled EP was released under the Metamorphosis banner. Perry served as executive producer on the record, and had nothing but praise for her protégé.

More: Want to know Ferras sounds like?

For his part, Ferras also loved working with the newly minted record exec.

Meet Ferras - Metamorphosis Music's very first artist.

"Her instincts are really on point," Ferras said in a release about Perry's production work, released via Us Weekly. "She is very blunt and doesn’t sugar-coat things, which I appreciate. Also, she gave me the freedom to do what I wanted musically and was a natural partner."

Perry tweeted the announcement on Tuesday, after teasing it on the social networking platform the day before.