This article demonstrates how an analysis of fantasy femininity sheds light on how norms of gender, class and national identity reflect global and local cross-cultural currents in post-Soviet Russia. Drawing on a discourse analysis of women’s magazines and in-depth interviews with readers, it shows how, in the globalised post-Soviet cultural landscape, fantasy femininity represents both change and continuity. Feminine archetypes in women’s magazines, from fairytale princesses to Barbie dolls, reflect a wider post-Soviet cultural hybridisation and are an example of how Western women’s magazines have adapted to the Russian context. Furthermore, the article highlights readers’ ambiguous attitudes towards post-Soviet cultural trends linked to perceived Westernisation or globalisation, such as individualism, conspicuous consumption and glamour.