A robbery at a luxury watch store in Old Riga may have been carried out by a mobile, organized criminal group known for this type of crime, according to Raimonds Kronbergs, head of the Criminal Police Division of the Riga Regional Department of the State Police. Speaking in an interview on Latvian Television’s “Rīta Panorāma”, Kronbergs said this is one of the current lines of investigation.
Given the nature of the crime, international cooperation has been activated in the investigation, including collaboration with agencies from neighbouring countries and Europol.
The police have also received a significant amount of information from the public — including tips from Latvians living abroad — regarding the possible identities of the robbers. Authorities have successfully traced the suspects’ travel route, though the perpetrators have not yet been apprehended.
According to Kronbergs, several items have been seized during the investigation that will help identify the suspects.
He declined to comment on the medical condition of the store employee injured during the robbery but confirmed that the injuries were not caused by a firearm.
Kronbergs urged anyone with relevant information to contact the police but strongly advised against attempting to detain the suspects themselves.
As previously reported by LETA, on Tuesday, the exclusive watch store “Baltic Watches” in Old Riga was robbed by assailants using firearms or weapon-like objects.
A video shared on social media shows four masked robbers fleeing the store, with one of them releasing an unknown substance from a canister toward the store’s entrance.
According to police, the suspects escaped in a dark-coloured Volkswagen Golf 5 with stolen license plates, crossing the Stone Bridge.
A criminal case has been initiated under Section 176, Part 4 of the Latvian Criminal Law — for robbery involving the use of firearms or explosives, or where serious bodily harm is inflicted on the victim, or where the robbery results in other serious consequences.
The exact material damages to the store are still being assessed.
LETA was unable to reach representatives of the store’s owner for comment on Tuesday.
In 2023, Baltic Watches had a turnover of 4.194 million euros — an elevenfold increase from 378 951 euros in 2022. However, the company’s profit in 2023 was 176 241 euros, a 22.7% decrease compared to 2022, according to data from Firmas.lv.
Baltic Watches was founded in 2016 with a share capital of 2 800 euros. The sole owner of the company is Ģirts Strencis.