Shop loses $250k worth of jewellery in dramatic heist

A dramatic jewellery heist in Melbourne has been captured on camera.

Terrified shoppers fled down Sydney Road, Brunswick, after three men stormed the Medina Jewellery shop at 1.30pm armed with an axe, knife, Taser stungun and pistol.

The masked men threatened to kill the owner as they ransacked the shop.

One man held him at gunpoint while the other pair cleared every shelf.

A father and his son Mohamed were caught up in the heist, saying they saw the trio coming and fled from the shop.

“I was in the store and I saw people, someone with an axe running in, and the guy had a blue mask and a black hoodie and he was running in with an axe and three other people ran in after that. They took jewellery, around three hundred grand worth of jewellery and they ran off, jumped in a Mercedes car and drove off,” Mohamed said.

The robbery took just seconds to execute but has devastated the small business, losing $250,000 worth of gold jewellery.

The offenders are believed to have fled towards Albion Street.

If you have any information that could assist police, contact Crime Stoppers on 1800 333 000.