Jewellery and watches worth around $53 million were stolen from the Intercontinental Carlton hotel, in Cannes, in sheer daylight reports say. The jewellery was part of the exhibit of Leviev jewelry titled, "Extraordinary Diamonds," displayed at the lobby of the hotel. The exhibit was on since July 20 and was to conclude in August, reports add.

The robbery seems to be conducted by a lone gunman who wore a mask and gloves and carried a briefcase. He ran off with the jewels stuffing them in the briefcase. Investigation is still underway. This is being considered France’s second biggest jewellery robbery, and is the third major jewellery robbery in Cannes in the past two months. In May, the Cannes International Film festival faced two significant robberies, one that of a necklace by Swiss jeweler De Grisogono (apparently worth $2.5 million) and the other of jewels by Chopard worth $1 million. The biggest jewellery robbery in France so far has been that of jewels worth $113 million stolen in 2008, reports say.