NYC dress manufacturer Jack (Warden) is in debt to loan shark "Mr Eddie" (Kiel), who tells him that Jack's son Bobby (O'Neal) must join the firm as "new blood", despite Bobby's complete lack of knowledge of the dress business, and current career as a Professor of American Literature at a small liberal arts college. Kidnapped by two of Eddie's goons, Bobby is forced to come back to the city and join his father's business. Bobby complicates matters by falling in love with Mr Eddie's neglected wife, the cultured Lira (Melato). After a late-night tryst at the home of Eddie and Lira, Bobby accidentally invents the solution to his father's problem: see-through denim blue jeans with strategically placed holes in the rear that expose one's backside. The fickle public goes crazy over the "sexy" new style. "Fine Fashions" repays its debt to Eddie, and Bobby goes back to his college. However, Lira follows him, and Eddie finds out about them and heads to the school in a murderous rage. Jack follows anxiously, and the last quarter of the film involves Lira stepping in for an ill singer to perform the role of Desdemona in the school's version of the opera Otello. Eddie knocks out the male lead and himself takes the role of Othello. Jack and Bobby then do their best to stay alive while trying to protect Lira from her jealous husband.