This is an Italian adaption of the book of the same name. I haven't actually read the book myself, although I am very familiar with the seminal song 'Venus in Furs' by The Velvet Underground. So I had a basic idea that this story is about a sadomasochistic relationship between a couple – Severin and the 'whiplash girl-child' (Wanda). The song is of course a bona fide untouchable classic, the film somewhat less so. Nevertheless, it's still a stylish and effective slice of Eurotica.
It tells a tale about Wanda (Laura Antonelli) who is driven by her masochistic husband Severin into sexually dominating him. This entails her being blatantly unfaithful and treating him contemptuously. As time progresses he struggles with his own rules.
The movie benefits from the sure hand of director Massimo Dallamano who was responsible for two excellent later films the giallo What Have You Done to Solange? and the giallo-poliziotteschi crossover What Have They Done to your Daughters? Venus in Furs isn't in the same bracket as those but then it is a very different type of film. It's pretty playful tone-wise for the most part, with a cheerful lounge soundtrack. It also looks pretty good with some decent locations, while Antonelli is great to look at as well. It is fairly erotic with a lot of classy nudity but be warned it does also contain a pretty notorious moment where we are treated to the sight of a couple of horses banging each other. Its horses for courses if you can excuse the pun.
Overall, though, this is a pretty good erotic drama. Also it should not be confused with the Jesus Franco film of the same name, also from 1969, which is similarly impressive but has nothing whatsoever to do with the novel Venus in Furs.