According to early indications, three people were involved in the robbery at around 1:00pm, with at least one of them carrying a weapon.

The gang fled the scene with their bounty, estimated at between €10 million and €15 million. Nobody was hurt, a police source said.

The store is located on the Rue de la Paix in the heart of the French capital, situated near the prestigious Place Vendome and home to several stores of high-end jewellery brands.

The last high-profile heist in the neighbourhood occurred in April, when three people on motorbikes robbed the Bulgari store, making off with several million of euros worth of jewellery.

Piaget, founded in Switzerland, makes luxury watches with price tags that can reach several tens of thousands of euros, and high-end jewellery.

It is a subsidiary of the Richemont group, which also owns several other luxury goods companies including Cartier, Baume and Mercier, Chloe, and Van Cleef and Arpels.