Nicole Picot, a mannequin in a Paris dress shop, has ambitions of being a designer herself, and when she is chosen by Stefan Orloff to accompany him to an elegant soiree, Nicole believes she finally has the chance to break into French society. Instead, it turns out that Stefan is an equally ambitious but penniless Russian adventurer, who is trying to raise money for an investment scheme. They become partners, and within a few years, Nicole is a successful designer, the head of the House of Picot, with only her old dresser, Suzanne, to remind her of the past. Nicole has resisted marrying Stefan, and when she meets Tony Wayne, a handsome British diplomat, it is clear why. Nicole and Tony fall deeply in love, but when Stefan asks her to marry him in order to help save his current schemes, she agrees. Just after the wedding, Francis Chalon, one of Stefan's partners, is arrested. Stefan runs away, but Nicole insists on staying. When news of Stefan's involvement in a swindle breaks, a mob attacks Nicole's shop, completely ruining it. Tony comes to her aid, and Nicole admits that she loves him, but says that she is going to Stefan anyway. She joins Stefan in his hideout, where she accuses him of dishonesty and cowardice. While they talk, Stefan sees the police surrounding the house and sneaks out. The police shoot him, but make it look like suicide. Nicole sells her business to help pay some of Stefan's debts. When Tony begs her to marry him, she protests that the scandal will ruin him, but he insists that he will brave any difficulty, and finally, she agrees.