It was graduation day at the Fashion Retail Academy today, and Sir Philip Green’s initiative seems to be equipping its graduates well for the workplace.

The graduation day at the Fashion Retail Academy is always an energising occasion. Backers Sir Philip Green, Sir Stuart Rose, Terry Green and Andrew Varley (Next’s taciturn property director - for some reason Simon, sorry, Lord Wolfson of Aspley Guise, never comes) took to the stage to present the diplomas to the effervescent students. Lisa Snowdon, who apparently presents the Capital Radio breakfast show (I haven’t listened since the Chris Tarrant era) also showed up to present some prizes, which excited the students no end.

Former Tesco clothing chief Terry Green, who has stayed on as a consultant, always seems to particularly enjoy the occasion, remarking on the stage that “I’ve never been kissed by so many glamorous girls in such a short space of time. Stuart might have been, but I haven’t.” And while it is without question the most glamorous educational establishment you’re ever likely to visit, it succeeds in achieving a very serious and worthwhile aim.

According to reports in today’s papers, there are 70 graduates chasing every job, but already 60% of this year’s graduates from the fashion academy have secured jobs in the industry and the leading fashion retailers are clearly backing it enthusiastically. As well as the four founding backers, I spotted Carl McPhail of New Look, Belinda Earl of Jaeger and Geoff Quinn of TM Lewin to name a few in the audience.

Retail is one of the few areas of the economy creating jobs but traditionally good quality vocational education in what it takes to make it in the sector has been in short supply. The Fashion Retail Academy is a great initiative - wouldn’t it be great if the model could be replicated both elsewhere in the country and other areas of retailing?