The 35-year-old singer is said to be close to agreeing to a deal to launch her own clothing range with the brand, reported Contactmusic.
"Missguided think she could be great for the brand and fashion is something she wants to get into. Nothing has been signed for next year's 'X Factor' and it's likely that she won't be going back, so it's a great opportunity for Nicole to venture into new areas.
"She wants to continue working in the UK as she loves it here and feels like an honorary Brit. She's obviously going to be continuing with her music and this will be another string to her bow," a source said.