As a wave of fashion and design school graduates are unleashed on the industry this summer, and a whole new intake of budding students prepare to enrol in the new semester this September, some of fashion's leading names share their pearls of wisdom and offer advice for the business in the real fashion world.  

Starting your own fashion label is no easy feat, and keeping the business churning forward takes more than just talent and hard work. Here Christopher Kane, Phillip Lim, Alexander Wang, Erdem Moralıoğlu, Nicholas Kirkwood, Peter Pilotto and Thakoon Panichgul, through BoF, share their best advice for any aspiring and ambitious young designers: 

Alexander Wang: "Having clarity. Knowing what you want. You don't have to know how exactly to get there, but if you know exactly what you want, I think you figure out putting together the puzzle pieces and the layers. You figure out the journey, but you have to know what you want."

Christopher Kane: "Don't be something that you're not. Do something else if you don't want to be that big designer. It's okay to dream, but realise what you're good at and really focus on that. Like Louise Wilson said, there's always someone better than you. It's just human nature. So really work with what you have and prevail at what you're good at, but don't try to do everything because you'll burn out."

Peter Pilotto: "Create a signature style that is recognisable but also plays to your strengths as a designer. It is important to build a vocabulary that runs deep throughout the brand."

Get the full dose of advice from BoF here...