Jewelry heist at the Ritz in Paris
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WATCH: A jewelry store inside the Ritz hotel in Paris was the victim of an armed robbery Wednesday evening, according to French police.

A jewelry store inside the Ritz hotel in Paris was the victim of an armed robbery Wednesday evening, according to French police.

No one was injured in the heist, officials said.

Police said three men, armed with axes, were arrested at the scene, while two escaped with about $5 million worth of jewelry. The thieves dropped some of the jewels at the scene, police said, but they did not specify the amount.

Davy Parker, who works near the hotel said there was a commotion outside after hearing what sounded like gunshots.

"Everyone was in panic in the street.” Parker said, “But the police arrived really quickly.”

The hotel is located in the 1st arrondissement of Paris

The Ritz did not immediately respond to a request for comment.