Seven people were arrested after the raid at 11am on Wednesday February 12th in the Chopard store on Maximilianstraße.
But police said in a statement on Tuesday they now had doubts over the youths’ age and details.
They have released photos of four of the suspects and are appealing for help to find out if anyone knows where the people photographed were between February 1st and February 12th.
Munich police are also still looking for a black or dark blue VW Passat saloon with a Serbia or Romania number plate believed to be linked to the raid.
The city's criminal investigations chief Clemens Merkl told journalists the day after the raid that it may have been organized by the international Pink Panther burglary gang.
Anyone with information should contact police on 089 2910-0.