(FORTUNE Small Business) – When Roy Jones Jr. defended his IBF super middleweight title in 1996, he was wearing Grant boxing gloves. Evander Holyfield wore them, too, for his 1999 WBC heavyweight bout against Lennox Lewis. About half the fighters showcased on HBO wear Grant gloves, but unless you're a pro with the right connections, you won't be able to find a pair. That's because the company, founded by former trainer Grant Elvis Phillips, 38, has grown in the shadow of Everlast, which corners about 90% of the market for boxing equipment. But with Grant-branded clothing soon to appear in high-end stores in the U.S. and Britain, Phillips is hoping that 2005 marks the year his tiny boxing brand finally goes mainstream.

Phillips dropped out of high school to train amateur boxers at the age of 14. A few years later he was importing Mexican boxing equipment to make money between fights. In 1995, Phillips launched his own company, funded with the $500,000 he got when one of his fighters unexpectedly won a world title. After Mike Tyson was photographed in 1995 punching a Grant speed bag, high-profile fighters such as Riddick Bowe began calling Phillips for custom gloves.

A year later he started stitching flamboyant costumes (ostrich-feather boots, lambskin-and-mink trunks) for fighters who promised to wear his equipment in the ring. His break came earlier this year, when he met Marvin Traub, the ex-CEO of Bloomingdales and the founder of Marvin Traub Associates, a retail consulting firm. "The reputation Grant's got for his boxing equipment impressed us," says Traub, 79. He helped Phillips land a licensing deal this past fall with Rocawear founder Damon Dash. The two will collaborate and launch a line of streetwear—brightly-colored leather with prices of more than $500—this spring. Grant boxing equipment might also become easier to find soon. Phillips hopes to sell more affordable gloves and other gear through national sports retailers. —M.O.