Brand New Ferragamo's got drenched, what to do?

Next time this happens just leave them out in open air to dry out for a couple of days. Don't put any shoes in it until at least after the first day (if they were really drenched).
Don't put polish on leather until they are completely dry.


Just let your shoes dry out completely. They should be fine.

Also, take a newspaper and put it into the shoes - I have the feeling that it absorbs more of the moisture. As well lay them on the side, from my experience that also helps in the process.

I hope your shoes get well soon!

"Wrinkled"? I just see creasing. Maybe a bit more creasing than usual, but water doesn't really cause creasing so I expect they would look exactly the same even if they hadn't got wet at all. It doesn't really look too much out of the ordinary. The only shoes you should worry about getting wet are suede pairs.

And putting polish on while they're still wet is the worst thing you can do, it will lock the moisture into the leather and prevent it from drying. If the shoes were brown this could be a recipe for dark spots all over them, though with black shoes you probably won't be able to see where they're wet and where they aren't.