The framing story concerns a man who dreams of speaking to Venus about love while she wears furs. The unnamed narrator tells his dreams to a friend, Severin, who tells him how to break him of his fascination with cruel women by reading a manuscript, Memoirs of a Supersensual Man.
This manuscript tells of a man, Severin von Kusiemski, so infatuated with a woman, Wanda von Dunajew, that he requests to be treated as her slave, and encourages her to treat him in progressively more degrading ways. At first Wanda does not understand or relate to the request, but after humouring Severin a bit she finds the advantages of the method to be interesting and enthusiastically embraces the idea; though at the same time, she disdains Severin for allowing her to do so. (Summary from Wikipedia)