One year after becoming engaged, journalist Iris Nakamura and Queen Diana prepare for their Christmas wedding in Thessara. Iris and her father Julian travel to the palace, where she continues blogging about royal life while her unemployed friends Maya and Zara visit.
Iris becomes overwhelmed by rigid protocol and loses control of her wedding to designer Sahil and protocol officer Mrs. Petrova. Meanwhile, Diana struggles with her failing economic initiative, New Aldovia, which mysteriously hemorrhages money while unemployment rises.
Queen Katarina brings in Lord Edmund to help with reform. Laurent, impoverished after divorcing Vivienne, returns begging to rejoin the palace. Diana reluctantly accepts him.
The couple's relationship strains as Diana becomes distracted while Iris clashes with Mrs. Petrova. After Princess Ophelia's play is cancelled due to strikes, Iris hosts it at the palace. She's furious when Mrs. Petrova removes her blog posts and forces her to remove her mother's locket for a portrait.
After receiving a bitter Christmas card from an unemployed worker, Iris investigates with Maya and Zara, discovering shell companies are outbidding local workers and funneling money abroad.
When Laurent saves Iris from paparazzi, he offers to help investigate. With Ophelia's hacking skills, they discover the shell companies belong to Glockenspiel Consortium. Mrs. Petrova confronts them about paparazzi photos, and Iris admits to sleuthing.
When Diana fails to defend Iris, she storms out. Diana admits her failings to Ophelia, then reconciles with Iris. Katarina gives them permission for their desired wedding.
During a celebration, they reveal Glockenspiel Consortium is owned by Lord Edmund, who is imprisoned. Diana promises holiday bonuses to workers. She and Iris marry in a ceremony blending tradition with modernity as the kingdom celebrates.
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