Vogue editor Alexandra Shulman put Miss Cole on the cover of the magazine when she was only 16.
She said the schoolgirl was 'quite healthy', adding: 'Models now often aren't conventional beauties.
'Lily Cole is very pale, red-haired, round-faced. You wouldn't necessarily think she was going to be a leading model.
'I think it's a fact that there is a broader definition of beauty now then ever before.'
Miss Cole, who was born in West London, still lives with her mother, an artist.
Her career began after she was spotted by a modelling scout in a burger bar. When he approached her she ran away, convinced he was 'dodgy'.
He turned out to be connected to Storm, Kate Moss's modelling agency. Miss Cole was signed up at 14.
Within days of making her debut at London Fashion Week she was the girl of the moment.
Fashion labels were suddenly tripping over each other to have her represent them.
Despite being so in demand, however, Miss Cole has been determined to keep up her schoolwork. She is planning to study psychology at New York University next year.
A scholarship student at the £3,000-a-term Latymer Upper School in Hammersmith, West London, she spent most of her Easter holidays swotting for A-levels at a cramming school.
She reads textbooks while she has her hair done and does her homework on planes taking her from one glamorous location to another.
'Modelling is great but studies come first,' she said recently. 'I'm always the first to hand in my work because I know if it's late the teachers will come down on me like a ton of bricks.'
But there is still time to socialise. She has become a regular face on the London party scene and is a close friend of Kate Moss. Last night Miss Cole's model agency refused to comment.
One source said: 'She has always been skinny - she certainly has not been under any pressure to lose weight.'
