Your bag is gorgeous and looks unused. Picos are packed badly, even in the original box from H. Here is how I deal with them: Fill the bag with enough plastic bubble wrap to completely, but gently, shape the bag. Don’t stretch it. Then take a roll of bubble wrap and place it through the handles so the handles are shaped in nice domes, and not crushed. Place the pico inside it’s sleeper bag and lie it down on a carpet floor on its long side. The bubble wrap holding the handles will be parallel to the floor. Make sure the seams in the sleeper bag do not come across the leather. If you are concerned about humidity, place small micro fiber towels in your bag before the bubble wrap.
leave it on the floor, just like that. after a few days take it out and have a look. Turn the bag on the other long side if that looks like a good idea. I leave my picos just like this between wearings. They have done great.