Possibly the best day 1 has to offer (although I've not seen everything)
At first blush the too bad to be true wigs might lead to an uncharitable thought that it's like an asylum escapee got hold of the worst imaginable Anna Sui collection and the worst imaginable JPG and randomly threw looks together.
But converse and non descript stilettos across a collection and when you see the latter done with one green, one navy sport sock on the same model you have to think there's deliberate bad taste, leftfield deconstructive pastiche intent here. So the wigs, therefore, are knowingly 'bad'.
I see the reference someone else made to Bernhard Wilhelm but moreso probably Dame Vivienne and this type of vibe is best done really just on the street by the inhabitants of Hoxton, Brick Lane, Hackney and Peckham. Here, some of the styling decisions did make you wonder, jury out stylie, whether it's really delivered from a cool place or just plain ridiculous.
NYC seems to be continuing it's fascination with early 90's festival grunge channeling, as it does, mid 70's boho, hippy, traveller, ethnic with also so far bits of mid 60's, or sports, or prim in a mash-up of retros.
If you're going to that, do it leftfield like Gary Graham is trying. Not with contrivance like Richard Chai which felt like that same asylum escapee had mashed AW10/11 Marc Jacobs (in the palette of drab with bits of glitter) with AW10/11 Alexander Wang (in the slouchy grungy silhouette). And definitely don't do it with commercialism and too much lady like BCBGMaxAzria which at times felt like very bad Cavalli fused with I'm not quite sure what.
Despite their differences, quite similar positioning across all three in being early 90s/mid 70's/splash of mid 60's. But two points why this doesn't bode well for fashion - 1) taken on a piece by piece view nobody is actually designing anything - it's all just fusion of retros styling and 2) consumers don't actually need to buy anything from these brands. You can do the looks DIY for less - maybe £50 from vintage or £5 from jumble/thrift if you're lucky.
And in doing so you get also the desirable patina of aged authenticity that this festivally positioning somehow benefits from. So, if you're going here, leftfield is obviously the way but take it all the way to thrift DIY and self customisation. Anything overwrought, too lady, too polished or too new just isn't going to work so well. Leave behind the department store, head for the jumble sale. One green sock, one navy sock. Hmm. Maybe.
But I do disagree on the thrift shop comments. I find they never have quite the same cut as modern pieces, and that you can't pull off a modern-retro look quite in the same way as new pieces come across; of course there are exceptions and sometimes you can really score in the thrift realm. But you make it sound so simple. 
