Two people had to be treated in hospital after the robbers released a cloud of bear spray as they ran from the La Swiss Watch City Jewelry Store at around 5:15 Sunday afternoon.
Vancouver police say the two suspects had entered the high-end watch and jewelry store just minutes earlier.
One of the men held staff at gunpoint as the pair smashed display cases and filled bags with loot.
There's no word on the value of the stolen items.
The suspects are described as in their 40s, of average height and build, wearing black pants and hoodies, with the hoods up.