Cannes Film Festival Jewel Heist

About $1 million worth of jewelry stolen from safe in hotel near the festival.
2:39 | 05/18/13

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Transcript for Cannes Film Festival Jewel Heist
The bling factor at the cannes film festival is significantly diminished the result of a real-life hollywood-style caper involving a million dollars in jewels meant to be lo loo loaned out to a-list stars prowling various red carpets. Lama hasan is in cannes. La lama, good morning. Reporter: On a wet and windy morning in cannes, we have so much to tell you. About a million dollars worth of all that glitters is now gone. Talk about a coincidence because the dramatic heist takes place on the same night of sofia coppola's premiere of her movie "bling ring" a story of a group of l.A. Teenagers breaking into the homes of the rich and famous stealing their jewelry. It may sound like a job for cary grant in the movie a thief" scene of the crime, star-studded cannes film festival. The target, swiss jewelers to the stars, chopard but this jewelry heist is no hollywood plot. A tempting venture knowing all of the expensive jewelry that's going to be at one location. Reporter: Right under the noses of french police, beefed up security and the glitz and glamour less than a mile away thieves descended upon this hotel brazenly ripping a safe out of a room in a room used by the legendary jeweler. An idea crime. Everything was timed perfectly. You would have to have some inside information. Reporter: The cannes festival for the last 16 years even -- ch chopard has been using the hot event to showcase its fine gels. Draping superstars like julianne moore and cindy crawford in eye-popping ice. Ooh-la-la. But the jeweler says none of the missing loot valued by investigators at over a million dollars was intended for the festival's stars. They are not part of the collection of the jewels that are worn by actresses during the cannes film festival. Reporter: French police are on the case questioning a chopard employee carrying surveillance video for clues. As for the film festival, well, the show must go on. Well, so far french police have made no arrests, they have no suspects. The one silver lining is not the weather, it's this, that prestigious award that ise by chopard for the best movie that's intact, it is safe. Good to know. Insurance companies will be going wild, I am sure. Lama, thanks so much.

This transcript has been automatically generated and may not be 100% accurate.

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