Strange wrinkles on brand new Isaia suit (pictures)

Maybe this an example of the dreaded "blown seam" (when a seam us exposed to too much steam, it can theoretically bust out of its ironed-in form). Just guessing though. I assume you tried ironing it?

Lol What? Nah that won't happen. Mist the area very gently with some water. Lay a thin cotton cloth over it, like a cut-open, old, but clean, 100% cotton T-shirt. Then iron over it with the iron set to the highest heat setting and on 'dry' (no steam). In fact, empty the iron of water first.

And please post follow up pictures!

It very well could be an orphaned suit jacket. I mean, it might as well be, regardless. But I'm not sure how much that matters. Ostensibly, you knew what it was going to look like before you purchased it. It clearly does not have the typical odd jacket signifiers (patch pockets, double-stiching, etc.). If it was important to have a blazer that is unequivocally a blazer, does it matter if there is a pair of matching pants out there?

Put another way, if you want a blazer that could only be construed as a blazer, this jacket doesn't cut it--but that has nothing to do with whether it's orphaned. If you just want something wearable as a blazer, this will work, though it is not optimal. I'm assuming the cloth is not super fine. Just swap out the buttons for proper blazer buttons (brown horn or something metal). Also, since the sleeve buttons aren't cut yet, you can further casual-ize the jacket by adding fewer buttons than are typical for a suit jacket. Three or less.

You can try pressing first. Don't spray water or mist directly on the jacket cloth, put the press cloth over the fabric and spray water onto the press cloth then press. Don't dampen the cloth too much. Do not use the highest temperature of heat settings. Set the iron on the press cloth and apply pressure holding the iron in one place. Do not slide the iron back and forth. Hang the jacket and let it dry. Wait to see if the puckers reappear.

Doesn't look like a blown seam as all the puckers are on one side of the seam, not both sides. If the puckering returns there may be fullness on one side of the seam when it was sewn. The solution is to open the seam and sew it again. It is fixable.

Wool does not melt!