In a quiet and picturesque village in Tasmania’s Midlands, a bizarre and brazen robbery has taken place.

A renowned trophy has been stolen from the Tasmanian Wool Centre in Ross in a late-night smash and grab caught on CCTV.

CCTV of the Zegna robbery.

The robbery was caught on the centre’s CCTV cameras.  (Supplied: Tasmanian Wool Centre)

A thief in a light-coloured hoodie reaches a hand into a smashed glass cabinet.

The theft happened close to midnight. (Supplied: Tasmanian Wool Centre)

A thief in a light-coloured hoodie crouches over a trophy case on the ground.

The thief left with the trophy and its wooden case after being unable to remove the trophy from the case. (Supplied: Tasmanian Wool Centre)

The prestigious Ermenegildo Zegna Trophy was the only item taken from the centre, which houses a museum and gift shop, and is a popular stop for tourists along the Midland Highway.

The theft is the talk of the village.

Zegna trophy

The prestigious Ermenegildo Zegna was on display in the Tasmanian Wool Centre at Ross before it was stolen. (Supplied: Tasmanian Wool Centre)

The centre’s general manager, Jessica Newton, recalls getting a “terrible” phone call about the robbery one night in December.

“I couldn’t believe it,” she said.

“I kept thinking … did that really happen? Was it a dream, or nightmare?”Jessica wool museum

Tasmanian Wool Centre manager Jessica Newton is shocked by the trophy’s theft.  (ABC News: Hayden Smith)

For decades, the “Zegna” trophy has represented the strong ties between premium Tasmanian wool and Italian high fashion.

From 1963 to 2008, it was awarded to the best superfine merino fleece, and considered among the world’s most coveted wool industry trophies.

Zegna trophy old

The Ermenegildo Zegna Perpetual Trophy was presented to the best Superfine wool grower from 1963 until 2008. (Supplied: Tasmanian Wool Centre)

Ms Newton described the trophy — created by renowned Tasmanian sculptor Stephen Walker — as “spectacular”.

“It’s an amazing thing to see,” she said.

“It tells the story of wool growing in the Midlands.”

In recent years, it had been showcased at the centre’s museum.

But that all changed at 11:38pm on Friday, December 5.

Nothing else stolen in heist caught on CCTV

CCTV footage shows a man breaking into the museum’s side door and heading straight for the Zegna.

Clad in a hoodie, trousers and gloves, he then uses a hammer to smash through the glass casing, before taking the trophy and fleeing the scene in a white van.

The robbery was over in a matter of minutes.

No-one has been arrested and Tasmania Police say investigations are ongoing.

New - wool centre

The Tasmanian Wool Centre was founded in 1988.

  (ABC News: Hayden Smith)

While baffled by the brazen heist, Ms Newton believed the trophy was specifically targeted.

“It’s made out of some beautiful things, but not a huge amount of them,” she said.

“To go to this trouble to take it … it’s a mystery.”Will ‘priceless’ trophy be returned?

For those in the Tasmanian wool industry, like broker Rob Calvert, the trophy’s theft has been a shock.

“We’re very sad that this has happened and hopefully it turns up again,” he said.

“The growers that won the award were regarded as producing the finest wool in the world.”

Rob Calvert

Wool broker Rob Calvert says the trophy’s value is symbolic, rather than commercial. (ABC News: Hayden Smith)

Premium Tasmanian wool continues to be popular among Italian luxury fashion brands, including Milan-based Zegna.

“It means a lot more to the industry and to Tasmania — and to those few farmers who were lucky enough to win it — than it does from a commercial point of view,” Mr Calvert said.

More than a month after the incident, Ms Newton said locals were still talking about it.

“We’ve never been involved in any sort of robberies or anything like that,” she said.

“The town is a really beautiful, small, tight-knit community.”

Still, she was hopeful the Zegna would one day be returned.

“First and foremost, it would be amazing to get it back,” she said.

“It’s priceless, and it’s not the type of thing you can just sell down at the pub or offload easily.”