The men, who appeared to be wearing burqas, entered Rhia Jewelers with guns and threatened the owner of the family-run business, Abdul Azam, on May 22.
A lucrative haul of jewelery, mostly gold, was taken from the store, which is located inside the Calamvale shopping centre.
“I said, ‘Yeah, I’ll do it, I’ll do it’ but I kept on backing out just to make sure I could see them both properly, and they (were) getting increasingly frustrated,” Azam told 9News .
Azam can be seen on the store’s CCTV video putting jewelery into a bag while the thieves threaten him.
One of the men can be seen lunging toward Azam after a woman outside the store screamed for help.
“He sort of dropped his weapon and I went to make a slight move toward it, (then) the other guy went to hit me,” he said.
The woman’s scream seemed to scare the pair off and they fled the store with bags full of the stolen jewelery.
“We sell a lot of 22-carat gold and they only target bangles because I think it’s easier to melt and get rid of,” Azam said.
“You always hear these stories and you know the risks but you never think this could happen to you.”
Police are investigating the incident.