While it's vague about the exact value of the jewels heisted from the Suite Novotel Cannes Centre Thursday night, Chopard says the $1.4 million being reported by the media is far too high.
The company also said the stolen items were not headed for the red carpet.
It was Chopard's first statement on the robbery at the 124-room business-class hotel.
Also read: Chopard Jewelry Heist at Cannes Film Festival
The entire safe housing the jewels was taken from the room of a Chopard employee sometime between 8 p.m. and 3 a.m. — ironically, roughly the same time as the premiere in Cannes of Sofia Coppola's newest film, "The Bling Ring," which is about real-life celebrity jewelry thieves.
Here is Chopard's statement:
"An employee of the House of Chopard has been the victim of a robbery last night in their hotel room while not on the premises.
There is currently a police investigation under way. So we can only let you know that the value of the pieces stolen is far lower than those in the figures circulating in the media.
The jewels stolen are not part of the collection of jewels that are worn by actresses during the Cannes Film Festival."