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Passing herself off as a countess, glamorous Lucy Stavrin (Evelyn Brent) hobnobs with the rich and famous along the French Riviera. Aware that Lucy is a phony, jewel-thief Malatroff (Paul Lukas) blackmails Lucy into helping him steal the valuable necklace owned by the young wife (Helen Ware) of phlegmatic American businessman Sylvester Corbett (Eugene Pallette). She does what she's told, only to find herself in competition with gentleman thief Courtney Parkes (Clive Brook). Upon falling in love with each other, Lucy and Stavrin mutually decide to reform -- if they can. A French-language version of Slightly Scarlet, titled L'Enigmatique Monsieur Parkes, was filmed in mid-1930, with Adolphe Menjou and Claudette Colbert.