Police on Wednesday said they arrested three unemployed men who are suspected of stealing more than HK$39 million worth of high-end watches from a shop in Tsim Sha Tsui.

Officers said the gang stormed the luxury watch store on Granville Road on Tuesday afternoon and made off with 24 timepieces in less than a minute.

Two of them smashed open a display cabinet with hammers, while another pointed a knife at a staff member. They then took the watches before they fled by car.

Police said they believe one of the suspects posed as a customer, and the other two wore masks as they robbed the store. The force added the arrested suspects are between the ages of 21 and 24.

"We seized the suspects' clothes and mobile phones. Our operation is still ongoing. We're still hunting for the other suspects, and the whereabouts of the lost items. I would like to remind the public to be careful if someone is selling luxury watches of unknown origin," said assistant district commander Ching Chi-yan.