In a brazen and audacious act, armed robbers targeted the prestigious Swiss watch brand Piaget’s store in central Paris, making off with a staggering haul of jewelry estimated to be worth between 10 million to 15 million euros ($11 million to $16.5 million), as confirmed by the Paris prosecutors’ office.

The robbery unfolded at the Rue de la Paix store, situated in the upscale Place Vendome district—a renowned hub for jewelers, watchmakers, and luxury brands. Unfortunately, this area has witnessed a series of armed robberies in recent times.

An ongoing investigation is currently in progress, and authorities are actively pursuing three suspects in connection with the heist.

This daring robbery brings to mind a similar incident in May of the previous year when armed thieves targeted a Chanel watch and jewelry store in the same vicinity and made their getaway on motorcycles. Other luxury brands, including Bulgari and Chaumet, have also fallen victim to such heists in recent years.

Piaget, a prominent Swiss luxury watch brand, is part of the renowned Swiss luxury goods group Richemont.

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