Volpina and Ladybug are two Chinese spirits fighting akumas in Paris in order to earn Spirit Tokens to earn their way back into the spirit world. They currently live with Master Fu, a monk. Chat Noir is another Chinese spirit that occasionally helps, takes tokens, and flirts with Ladybug; much to both girls annoyance. After tracking an akuma to their local high school, the girls enroll, befriending Nino aka "DJ boy" and Adrien aka "Model boy", whom Ladybug develops a crush on due to their adoration of confections. Behind the akuma attacks are none other than a corrupted spirit Hawkmoth and his allies, Queen Bee and Vixen, two girls granted with spirit like power.
Whose Who:
Panty - Volpina/Alya
Stocking - Ladybug/Marinette
Briefers Rock/Geek Boy - Nino
Garterbelt - Master Fu
Corset - Hawkmoth
Scanty - Lila/Volpina/Vixen
Kneesocks - Chloe/Queen Bee
and Introducing Chat Noir/Adrien himself