New step for Crocs: Clothes

NEW YORK (CNNMoney.com) -- Known for its wildly popular footwear, Crocs Inc. said it would take a step in a new direction by launching its own line of apparel.

Crocs (up $0.99 to $59.98, Charts) shares jumped 5 percent higher on the news but was trading up 1.5 percent in midday trade on the Nasdaq.

A shirt from Crocs' new clothing line, set to launch in October.

The Colorado-based company said it would produce clothing for men and children that incorporates its Croslite material, which is used in its popular line of clogs and sandals.

The company said it would launch the clothing line just before the holiday shopping season in October, and would later introduce a spring line of apparel.