Montreal's Famous Jewellers Hit by Brazen SUV Smash-and-Grab Robbery

When an SUV crashed through the front of Famous Jewellers in Montreal's Parc-Extension neighbourhood at around 6:30 p.m. on March 28, owner Gaganjeet Singh confronted the three armed suspects who had just breached his storefront before they fled with hundreds of thousands of dollars worth of merchandise. Montreal police, the SPVM, launched a formal investigation in the aftermath.

The robbery was not an isolated incident. In the same week, at least two other Montreal-area jewelry stores were targeted in smash-and-grab attacks, with store owners pointing to record-high gold prices as a likely driver. Stolen gold can be quickly melted down and resold through organized retail crime networks, making jewelry retailers, particularly those carrying engagement ring inventories and high-karat gold settings, disproportionately attractive targets.

The broader numbers are stark. In Peel Region, Ontario, police recorded 37 jewelry store robberies in 2024, more than triple the 10 incidents in 2023 and well above the 13 in 2022. York Region alone saw its jewelry store robbery count double in 2024 and is on pace to surpass that total by the end of 2025. Waterloo Region police had already responded to three jewelry store robberies or attempted robberies in just the first two months of 2025.

Canadian Jeweller Magazine characterized the pattern as "a disturbing trend sweeping across Canada," and the mechanics of that trend have grown increasingly organized. Ontario police documented 17 violent smash-and-grab incidents from mid to late 2024 involving the coordinated recruitment of minors to carry out the attacks. Waterloo Region's police chief described jewelry store smash-and-grabs as becoming "commonplace" across the region and the Greater Toronto Area.

The economic logic behind targeting jewelry stores is difficult to ignore. Canada's jewelry market generated USD 4.39 billion in revenue in 2025 and is forecast to grow to USD 6.92 billion by 2033. The combined US and Canada diamond engagement ring market alone was valued at USD 32.37 billion in 2024. The goods inside stores like Famous Jewellers, gold bands, solitaire settings, pavé-set engagement rings, represent extraordinarily high value per square inch of display case: assets that are portable, globally liquid, and in the current gold market, more valuable than they have been in years.

Singh's decision to confront three armed suspects rather than watch them clear his cases reflects what jewelry store owners across Canada are increasingly weighing as coordinated attacks outpace conventional security responses. The SPVM investigation into the Parc-Extension heist remains ongoing.