Men armed with a gun and a hand grenade walked into a luxury watch store in Cannes and made off with about 40 watches.  It happened just days after one of the biggest jewel heists went down at a nearby hotel.

The staff apparently thought the two men were tourists when they walked into the Kronometry store in the French Riviera City, a notion dispelled as soon as the weapons came out.

In February, robber targeted the same store, which is opposite the town's Palais des Festivals et des Congres building, site of the annual Cannes Film Festival.  That earlier heist netted almost A$1.5 million.  The bill on this latest crime is undetermined.

Meanwhile, authorities upped the value of the diamonds and precious gems stolen from the Carlton Hotel over the weekend to well more than A$150 million.  The masked lone gunman walked into the first floor jewel exhibition and fled on foot.