The AW21 pieces set to become future fashion grails

LA-based archive fashion dealer Johnny Valencia – aka Pechuga Vintage – predicts which items from the recent shows will reach cult status 20 years from now

18March 2021

What’s a piece of clothing truly worth? And how long does it retain its value, if at all? Fashion is one of the only businesses where the value of its goods has almost nothing to do with their intrinsic quality. For every sold-out Supreme lighter, dog bowl or fire extinguisher, there’s a painstakingly hand-crafted gown sat gathering dust in the backroom of some atelier. And no superior cut, fabric, or execution will make a difference, because desirability is endemic. It can make buying fashion a pretty risky game. After all, how many of us have fallen foul of spending (far too much) money on an item only for its lifespan to be cut short by the onslaught of the trend cycle?

That being said, there are plenty of pieces in fashion’s vast archives that have become cultural artefacts in their own right. “If I could go back in time, I’d buy every single saddle bag from Dior by John Galliano. Every. Single. One,” says Johnny Valencia, who runs Pechuga Vintage in Los Angeles. “If I could’ve ransacked Vivienne Westwood in 1991, I’d have purchased every Boucher print corset that that store had to offer,” he says. “Why? Because then I’d bring them back into 2021 and make some serious quiche.”

With the AW21 season now behind us, what will the future vintage of today look like? Should we be banking on Marine Serre? Stockpiling Miu Miu balaclavas? What about those Prada purse-gloves? “I don’t expect everyone to consume with capital gains in mind,” Valencia says. “However, from a consumer and collector’s point of view I think that money should be invested wisely”. Here, Valencia casts his eye over the most recent fashion season and gives us his top picks for future thrifting. See it as “insider stock tips from one fashion nerd (trader) to another”.

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Courtesy of Schiaparelli

SCHIAPARELLI

“I want it all. The cast torsos, the cast bags, the casts of casts. Surrealism is now wearable. Don’t you sometimes wish you could wear a Dali? That melting clock would make a sick bag and that’s what Daniel Roseberry at Schiaparelli has achieved. I’d personally invest in the jewellery. The pieces that are molded to your body take about two months to make and you have to go to one of the Schiaparelli salon’s because it’s couture and made just for you (I know this because I already contacted the house and placed an order).

Sidenote: I would avoid anything that dresses your electronics, the giant phone case is too gimmicky. Also, think about the items that are going to be counterfeited the most. That phone case looks cool but the same look can be achieved via fast fashion – Moschino’s phone cases from AW15 suffered a similar fate – and that’s such a turn off.”

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Photography Alice Dellal

VIVIENNE WESTWOOD

“Vivienne f*cking Westwood: Grande DAME OF PUNK. I always look to her for inspiration. I started collecting her corsets in 2016 and selling them at Pechuga in 2018. Everyone wants to be zipped up, tied in, and erected (it’s true, corsets give you excellent posture).

Westwood reissued her 1987 Statue of Liberty corset in 2019 and we see them again for AW21 with an added bonus: THAT Boucher print. Westwood’s original corsets sold for about £300-£400 but considering that a 90s corset now sells for as much as a car I’d say it was worth it. From the AW21 collection I’d buy the new Boucher print corsets and the matching denim pieces. I’d buy a knitted corseted dress (for those chilly nights) and why not a pirate hat? It’s time to fully embrace new romanticism in 2021.”

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Courtesy of Moschino

MOSCHINO

“Jeremy Scott’s masterpiece of an AW21 presentation was a pastiche of everything we love about old Hollywood glamour with just a hint of surrealism that is so appropriate for our times. We need escapism right now (girl, we are still not fully out of lockdown). We need fantasy and (I never thought I’d say this) Scott really blows it out the park.

One thing the American designer has going for him is consistency. He loves to play (sometimes a bit too much) but this AW21 collection really made me forget why I tend to shy away from contemporary Moschino. I miss Franco. I think all true Moschino fans miss him. But Scott’s glove shawls, the coin purse pockets on exquisite tailoring, and angelic gowns (seen on Joan Smalls) would make even Mr. Franco proud, I think. I’ll be snatching a piece or two come autumn winter.”

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Courtesy of Marine Serre

MARINE SERRE

“I tread with caution when it comes to new designers because the notion of creating so much new stock kinda freaks me out. Like, where are all of these items going? But Serre, the Paris-based designer, really takes it up a notch.

There is a certain bricolage element that’s inherent to the Serre brand but the overall design is very, very easy on the eyes. From her AW21 collection, I want the patchwork wrap-around skirts as well as the scarf-skirts (I can’t help but think of Margiela when I see these). And I need to get my hands on the patchwork leather trench coat of my DREAMS.

I’m a fan of the crescent moon print but here’s a big disclaimer: use sparingly. So much of it has saturated the market because it’s been so easy to counterfeit. The last thing you want to do is show up at a post-pandemic party wearing the same “little moons” as the person next to you. There’s a pair of sheer leggings with the crescent logo from Serre’s latest collection, which is a fun way to wear the print. As are the black mock-neck tops which have rounded shoulders and a single crescent moon at the chest. The singular crescent just makes a bigger impact when compared to the allover print that the designer has come to be known for.”

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Courtesy of Chanel

CHANEL

“Chanel. We have to talk about her. The thing about Chanel is that it’s tried and tested. A chain belt from the house’s ‘93 collection is now worth its weight in gold (and it wasn’t even made out of solid gold to begin with). Marketing chez Chanel has done such a fabulous job at creating a timeless image for the brand that even people who don’t know Chanel know Chanel. But in order for a brand to stay alive it has to be worn.

Pieces I’m dying to have from Virginie Viard’s AW21 collection? The fun, faux fur cropped jackets in equally fun colours – a nod to what we saw the supers wear back in AW94. Other items on my wish list? The pearl suspenders, the crystal garters, AND the apres-ski monogrammed salopette. Considering how valuable Chanel sports items are this is a piece that would be worth collecting – or at least trying on. As resident hoarder at Pechuga I have to invest in Chanel. There is not a week that goes by that I don’t get a request for one of Lagerfeld’s gems. It’s just one of those brands that never seems to depreciate or lose its value. I’d stick to jewellery and niche items that harken to Karl and have the DNA of Coco, too.”

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