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Imagine a fever dream in which Martin Margiela and Philipp Plein were somehow blended (along with a twist of late-stage Ye) to present the script for a new Zoolander sequel. Conjure that, and you might—might—get a sense of the Vetements show this afternoon, which contained some pretty good ideas and some ugly-bad ones too.

During our preview, Guram Gvasalia said he’d recently seen a swastika daubed on a wall near Vetements’s Swiss HQ, which had inspired the opening “No Swastika” T-shirts. Of course Gvasalia objects to swastikas. But to lend them the same negative gravitas as a “No Smoking” sign seemed more provocation than protest.

This was another Vetements show with plenty of masks—a reference that goes back to Margiela. Gvasalia said he reveres Margiela, and when at its best, Vetements has indeed reflected some of the anonymous master’s radically democratic postmodern playfulness. Unfortunately, today the nonstop pulsing of the strobes not only made it hard to see the clothes, it made it even harder for the masked models to see the runway, which is why two of them walked straight into the photographers’ pit. Many others seemed to be flying blind.

Onward. What you can’t see well here is that a great many of the looks were open at the back. One ripped menswear model wore jeans that were denim at the front and clear plastic behind. But mostly it was the womenswear looks, which, when heading away from you, delivered an eyeful of pantyhose and tush. Gvasalia’s rationale was a mix of being inspired by the amount of lingerie that the stars he dresses are wearing; the success of a Vetements jeans style that has seen the company upcycle over 70,000 pairs of Levi’s to create a “push-up,” butt-lifting cut; and a scene in Eyes Wide Shut in which Nicole Kidman is interrupted by Tom Cruise mid–toilet break.

All the butt-exposing looks that ensued were fine enough in themselves: We all have butts, and we can flash them if we fancy it. However, when combined with the masks, or when worked into dresses imitating looks once worn by Gwyneth Paltrow (her pink Ralph Lauren Oscar dress from 1999) or Grace Kelly (the white dress worn today by Natalia Vodianova) or Audrey Hepburn (in Breakfast at Tiffany’s), they seemed to be treading over the line between kinky and creepy.

Other aspects of the show that seemed mystifying were probably inadequately explained. These included the opening recording of angry barking dogs and the tears of Anok Yai as she closed the show in a (butt-baring) widow’s ball gown—references to her and Gvasalia’s personal histories as refugees from war. All the above felt part of the Vetements shtick right now: Clothes that contain controversial contemporary comment and play willfully with volatile references in the hope of explosion.

Yet there were some fun and smart ideas in this collection too. The hunched-forward shoulder pads seemed a clever nod to the postural flaws of our contemporary doomscrolling purgatory. The superhigh “privacy collars” on outerwear, sometimes lined with poppers that connected snugly to baseball caps to create an even safer no-photos space, were excellent touches. Although sometimes dubiously conceived, the garments were excellently made. And it was great to see Cara Delevingne walk this show with complete serenity and presence, rising effortlessly to the challenges of her way-too-big heels and the hectic setup: What a pro.