Hilary Swank at the 14th Annual Hollywood Awards Gala. Photo: FilmMagic

What's an actress to do in between film roles and hairy armpit-flashing these days? Launch a fashion line, of course.

WWD reports that Hilary Swank is the latest celebrity to have been bitten by the fashion bug -- and the double-Oscar winner has certainly gotten plenty of red carpet practice to hone her design skills.

Swank is working with the DMA Designers Management Agency (the same team who are behind the reported Rachel Roy and Amar'e Stoudemire collaboration) on a sporty apparel collection.

The "Conviction" star was originally interested in launching a range of T-shirts, but given Swank's athletic background (she was a competitive gymnast, and we all saw how she can pack a punch in "Million Dollar Baby"), the line has evolved into "a contemporary, outdoor, athleisure brand," DMA co-founder Marc Beckman tells WWD.

Swank and DMA are currently looking for designers to partner with the actress on the collection.

Meanwhile, see which Golden Globe-nominee is reportedly launching a line with Kmart.