In the San Fernando Valley in 1977, teenage busboy Eddie Adams (Mark Wahlberg) gets discovered by porn director Jack Horner (Burt Reynolds), who transforms him into adult-film sensation Dirk Diggler. Brought into a supportive circle of friends, including fellow actors Amber Waves (Julianne Moore), Rollergirl (Heather Graham) and Reed Rothchild (John C. Reilly), Dirk fulfills all his ambitions, but a toxic combination of drugs and egotism threatens to take him back down.

Renowned dressmaker Reynolds Woodcock and his sister Cyril are at the center of British fashion in 1950s London -- dressing royalty, movie stars, heiresses, socialites and debutantes. Women come and go in Woodcock's life, providing the confirmed bachelor with inspiration and companionship. His carefully tailored existence soon gets disrupted by Alma, a young and strong-willed woman who becomes his muse and lover.