You’d be hard pressed to find a student at Central Saint Martins (CSM), an arts and design college in London, who doesn’t close their eyes and dream of being the next Molly Goddard . For her Bachelor of Arts graduate show, Goddard designed a series of dresses in tulle – the only material she could afford – and roped in her sister to do the styling. Sitting in the audience were buyers from retail company Dover Street Market, who ordered the entire collection. That rainy London night, a 24-year-old became an industry superstar. It was the fairy-tale ending – or beginning, really – that most fashion graduates want. And it was seemingly happening on a regular basis. In the noughties, a series of hot young designers burst into a market that had been dominated by luxury brands for too long. JW Anderson , Erdem, Mary Katrantzou , Alexander Wang , Jason Wu and Altuzarra became red-hot tickets at fashion week, shaping the aesthetics and career goals of teenagers who had once fantasised about working for Prada or Burberry , but who now wanted their own names on labels. Has the coronavirus put paid to that dream? And if it has, is that so bad? In many ways, it was a dangerous fantasy to begin with, one that strangled fledgling careers by depriving young designers of the experience needed to succeed in a now saturated marketplace. This is, of course, a particularly difficult year to be graduating. Sales are down, shops are empty, supply chains are shaky, and this year’s university fashion shows were all cancelled in favour of digital presentations. These events are an essential opportunity for graduates to build a profile, make industry contacts and find a job or sponsorship. Getting a foot in the door is the main reason students pay the fees for schools like Parsons School of Design and the Fashion Institute of Technology, both in New York. “Our students are incredibly resourceful, though,” says a spokesman for the University of the Arts London (UAL). “Now, more than ever, the world needs creativity and we know there is huge demand for the skills our graduates have developed. A recent study found that a higher percentage of UAL’s graduates go on to become business leaders than from any other British university.” The study, which analyses 2019 data, shows that nearly 10 per cent of students from CSM and the London College of Fashion – which are under the UAL umbrella – launch their own companies. But will 2020 graduates hit the same target? And should even they want to? Addressing an audience of students at CSM a few years ago, Anna Wintour, editor-in-chief of Vogue magazine, voiced concerns about designers launching brands too early. “The only thing I worry a little bit about going straight from school to starting your own business, is not that many succeed,” she said. “I personally would advise you to think carefully before you start your own business, and consider possibly working for a designer or a company whose work you admire.” Some young designers who have beaten the odds to set up a successful label in the 2010s echo her sentiments. Alexandre Mattiussi, the founder of French brand AMI, first tried to launch his label in 2002 when he was fresh out of the Duperré School of Applied Arts in Paris. Within two years, it failed and he took jobs at Givenchy and then Marc Jacobs . A decade after his first attempt, AMI was born and has since gone from strength to strength. The current crop of students won’t have graduate shows to catapult them into the industry, and very few in-house jobs are available at a time when brands have to scale back. Anaïs Mak, the founder of successful Hong Kong label Anaïs Jourden , believes it is not all doom and gloom for young designers, however. While she loved her four years studying at Studio Berçot, a private training institute in fashion design in Paris, she urges young people to find their own way into the industry. “Paris changed how I put together my creative universe and gave me great contacts,” she says. “But students who are concerned about going abroad to study in a pandemic will be OK. You can learn the technical side anywhere, and find your own way of working. At that time, I was travelling frequently to Hong Kong, and it was back when a lot of tailors were still thriving, so I was experimenting a lot on my own.” Mak does agree that there will be far fewer jobs in fashion going forward – like everyone, she has had to cut back on the size of her team – but she refutes the idea that it is an impossibly difficult time to start a brand. “I launched before Instagram was around, and I can see what a different world it is for graduates now,” she says. “In my day, we had to travel to meet the movers and shakers at press days and get to know people in the industry. Now, the market is much more saturated, but people have switched from discovering brands in stores to online, which means you can get creative and use your own channels to show the world your work. “Yes, everyone is buying less right now – particularly luxury,” she adds. “But one of the responsibilities of a designer is to create something relevant, so I’d say, find your own way to appeal to people spending more time in a virtual world. Right now, even big brands have to stream shows online – it has evened the playing field, which is really liberating.” Graduates are left with a difficult choice. Mak is right – there are far fewer industry jobs available, making the temptation to strike out alone more appealing than ever. But is launching a brand in a massive recession ever a good idea? And other than the Molly Goddards of the world, don’t a lot designers benefit from spending their formative years learning the ropes elsewhere? “Young people should remember that when the market shifts, there is always an opportunity for new brands to grow,” says luxury adviser Mario Ortelli. “Yes, this is a difficult moment to find a job, as many brands are doing internal restructuring, but there are no hard rules. Ultimately, it is all about the individual – some designers start their own brands and then take creative directorships, others do the opposite. There are many ways to have a phenomenal career.” Keanan Duffty, the director of the MPS (Master of Professional Studies) in Fashion Management at Parsons, agrees. “There is a very positive energy around the programme and among our students,” he says, “though obviously there is some trepidation around entering the job market. But many students have undertaken internships in leading fashion companies. “Students will be graduating and joining a fashion industry which is witnessing global change – for the good. Businesses that are no longer relevant are being forced to either reinvent, or die. Those businesses need the talent and fresh perspective [Parsons] nurtures in our students.” Ultimately, fashion will always look to the young to shift the conversation, and to bring different trends, voices and perspectives to an industry that thrives on the new. Graduates should remember that uncertain now doesn’t mean uncertain forever.