My Bloody Valentine's Kevin Shields announced today that he has started a new label, Pickpocket, with his friend Charlotte Marionneau, of London-based band Le Volume Corbe. As NME reports, they achose to launch the label as a means of released Le Volume Corbe's new EP, Theodaurus Rex. Shields said we shouldn't expect to hear any MBV released by Pickpocket, though Marionneau revealed that the two are working on a noisy guitar-heavy track. It's likely to be released as a 10" record. Photo credit: Graham.