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Armed robbers steal millions worth of jewelry from Piaget store in Paris

Armed robbers raided a store of the luxury Swiss watch brand Piaget in central Paris on Tuesday, escaping with between 10 million to 15 million euros ($11 million to $16.5 million) worth of jewelry, the Paris prosecutors office said.

The robbery took place around lunchtime at the store on the Rue de la Paix in the upscale Place Vendome area, home to several jewelers, watchmakers and luxury brands. The area has seen a spate of armed robberies in recent years.

An investigation is now underway and a source close to the matter said police were looking for three suspects.

In May last year, armed thieves robbed a Chanel watch and jewelry store in the area and then sped off on motorbikes. Bulgari and Chaumet stores have also been robbed in recent years.