Two men were filmed on CCTV attempting to break into the Swanston Street store with a crowbar at 3am on December 24.
While the initial attempt to enter the premises was unsuccessful, one of the men returned an hour later and was able to force the front door open.
He then stole several trays of jewellery, valued at $250,000, including several opal necklaces and items that were being repaired for customers.
The man fled the scene on foot along Little Bourke Street, using his orange hi-vis shirt to cover the trays.
Detective Senior Constable Jason Barry-Bassett, Victoria Police, told radio station 3AW that the theft had lead to serious financial consequences for the store’s owner, and described many of the stolen pieces as having “higher sentimental value” for customers.
While neither of the men had been apprehended at the time of publication, Barry-Bassett said police were “very confident” that they would be identified.
“It’s just a case of how long it takes and we would like it to be sooner rather than later to recover as much jewellery as possible,” he added, appealing for witnesses to come forward.
The investigation continues.
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Video:
Jason Barry-Bassett