 Third in the Pink Panther series. The "Pink Panther" Diamond is stolen once again from Lugash and a white glove is left making everybody think that the famous jewel thief "The Phantom" has stolen it. This surprises everybody as it was thought that The Phantom was retired. It also surprises The Phantom (AKA Sir Charles Lytton) himself as he didn t do it. He sets out from the south of France to Lugash find the diamond and to clear his name as pressure comes from the Lugash authorities to give back the diamond. Meanwhile, infamous French detective Inspector Jacques Clouseau is called in to find the diamond and he immediately goes to the South Of France to check up on Sir Charles. Claudine, Charles  wife, discovers this and leads Clouseau on a false trail and, as normal, Clouseau, with his clueless methods and Cato, his oriental manservant, cause mayhem as they try to find the diamond. Meanwhile, Clouseau pushes his boss, Chief Inspector Dreyfus too far and as the story proceeds, Dreyfus makes attempts to murder Clouseau and get him out of his life forever...