Inspired by Ingmar Bergman's Smiles of a Summer Night, a tangled web of affairs is weaved around actress Desirée Armfeldt and the men who love her: lawyer Fredrik Egerman and Count Carl-Magnus Malcom. When Desirée's show travels through Fredrik's town, the estranged lovers' passion rekindles.

In the summer of 1953, Margaret Johnson, the wife of an American businessman, is touring Italy with her daughter, Clara. While sightseeing, Clara—a beautiful, surprisingly childish young woman—loses her hat in a sudden gust. As if guided by an unseen hand, the hat lands at the feet of Fabrizio Naccarelli, a handsome Florentine, who returns it to Clara. This brief episode, charged with coincidence and fate, sparks an immediate and intense romance between Clara and Fabrizio. Margaret, extremely protective of her daughter, attempts to keep Clara and Fabrizio apart.

A comic tale of three would-be entrepreneurs who set out to invent a rocket belt. The clash of their mismatched personalities soon dissolves the business into a morass of recriminations and retaliations, kidnapping, and murder in this parable of American dreams and delusions.