Offenders used weapons to smash into the display cabinets, police said, taking a significant amount of jewellery including Swarovski, Karen Walker and Nomination items along with high-end G-shock and Nixon watches.
"The store was equipped with CCTV cameras and fog cannons were activated.
"The offenders then fled in a stolen car, which was located abandoned in Hamilton."
The male will appear in the Youth Court at a later date.
Cambridge police's sergeant Ben Joll said the crime has had a huge impact on the owners of the store who were planning to take a short break over the New Year but have been left to make significant repairs, causing disruption to their business during a busy trading period.
Anyone with information, or who may have seen jewellery of this description offered for sale, should contact police via 105 quoting reference 201230/0347.