A woman is tormented by dreams that she is the reincarnation of a dead countess. Her father, trying to get her to stop the dreams, takes her to a village near the castle of the late countess.
The trademark of The Phantom, a renowned jewel thief, is a glove left at the scene of the crime. Inspector Clouseau, an expert on The Phantom's exploits, feels sure that he knows where The Phantom will strike next and leaves Paris for the Tyrolean Alps, where the famous Lugashi jewel 'The Pink Panther' is going to be.