Graduate Fashion Week heads to east London and the heart of the industry

The streets of east London looked more vibrant and outlandish than ever this weekend, when the world's biggest student fashion event - Graduate Fashion Week - opened its doors at Brick Lane's Truman Brewery, a new location in the beating heart of modern British fashion.

Now in its 23rd year, GFW is best known for the wackiest of its students' creations: the gimp masks and cellophane-wrapped naked bottoms most likely to make the front pages of newspapers. But for the event's organisers the showcase has a rather more sensible purpose: to ensure that BA fashion students find work after graduation.

Over four days, the work of 1,000 students from 42 universities is displayed in 21 catwalk shows, while dozens of talks and seminars are held, from advice on PR from Vivienne Westwood to tips about buying and merchandising from the event's sponsors, George at Asda.

'Everybody wants to be a designer,' says GFW chairman Rob Templeman. 'But there are more than 800,000 16- to 24-year-olds out of work in the UK, so it's important to remember that there are lots of good careers available in the industry.' On the final day, prizes will be awarded, including the top 'gold' prize of £10,000 and the opportunity to design a collection for George. The event also offers the chance for students to meet industry scouts. 'We very much encourage other retailers, suppliers and manufacturers to attend,' says Fiona Lambert, vice-president of George. 'There are some incredibly talented young people out there and they need opportunities.'

GFW was conceived to give fashion students from outside London a chance to showcase their work in the capital. Although graduates of the MA courses at Central Saint Martins College and the Royal College of Art do not show at the event, it has spawned more than its share of successes, with previous award winners including Matthew Williamson, Julien MacDonald, Burberry CEO and creative director Christopher Bailey, Stella McCartney and Giles Deacon.

The new east London location looks likely to boost awareness even more. 'Ticket sales are up by 20%,' says Templeman. 'We get around 25,000 attendees most years, but this year we are projecting at least 30,000. Brick Lane is the centre of the creative district. It's also a lot more accessible than Earl's Court.'

Certainly, for Fashion East founder Lulu Kennedy - who discovered designers including Jonathan Saunders and Richard Nicoll - the move seems significant. 'I never made it over to GFW when it was miles away in west London; I tended to look at images online,' she says. 'But now it's based at the old Truman Brewery, which is where my studio is, I'll definitely be checking out shows. It's exciting to have it in east London, which makes loads more sense, as this is where fashion is actually happening.'

While GFW may not have the prestige of the Central Saint Martins MA show - which runs in London Fashion Week - its breadth and diversity of talent has long been taken seriously by the industry. 'This is the germination of the seeds of future fashion. That's the deal,' says Gordon Richardson, creative director of Topman. 'It's crucial.' Former GFW winner Julien Macdonald says: 'Winning GFW launched my career, and it was a proud moment because the competition is there.'

The award's first winner, Christopher Bailey, now one of the most powerful people in British fashion, agrees: 'We have the most exceptional design talent coming out of our colleges and I salute their energy, their talent and their well-earned and deserved global reputation.'

Last year's 'gold' award winner, Lauren Smith from Edinburgh College of Art, won £20,000 and the chance to design a collection for George. She describes the experience as 'beyond amazing'. The money is still in the bank and Smith is considering putting it towards launching her own business when she finishes her MA.