NEW YORK — Touted as the next Michael Kors by some retailers, young designer Peter Som is living up to his early promise with a luxurious fall collection. While the designer is partial to neutrals this season, he didn’t shy away from color completely. Splashes of rich red, for example, were right in sync with the bold color that’s showing up every-where this fall. Here, Peter Som’s silk georgette top and patent leather pants. For more on red, see pages 6 and 7.