It happened at the Equvalence shoe store on Ventura Boulevard near Newcastle Avenue. The store carries high-end sneakers, clothing and collectible items.
The suspects broke into the store around 3 a.m., according to police, but when officers arrived, they took off, leaving behind a trail of cash.
"They dropped some of the cash, but most of the money they took with them ... a good amount of money," said owner Michelangelo Falcon. "It's definitely in the thousands."
Police believe the suspects fled in three separate vehicles - two white Camaros and a grey Corvette, all newer model cars.
An LAPD helicopter located one the cars on the 101 Freeway soon after, police said. California Highway Patrol officers initiated a brief pursuit but called it off shortly after once they lost sight of the vehicle, according to investigators. At times, speeds reached 100 miles per hour.
"I'm very worried," said Leila Rayshouny. "I live in Encino, Burbank and Glendale, and I hear a lot of stuff is going on. I'm planning to move to Florida now."
The owner of Equvalence told Eyewitness News this is the third time the store has been targeted.
There was reportedly a burglary at the store last month. In December 2023, a group of thieves stole about $150,000 worth of merchandise in a one-night crime spree.
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"We want to support the community, so for people to actually attack what people build every single day is some of the hardest things to really justify," said Falcon.
There have been more than a dozen home break-ins reported in the San Fernando Valley in the past few weeks.
Los Angeles Councilmember Nithya Raman, who represents the area, said her office is "deeply alarmed by the recent cluster of residential break-ins in Encino."
"It is our top priority at this time to bring together the full capacity of the City to prevent this string of crimes from continuing and to ensure residents are safe," she said in a statement posted on the District 4 website.
Her office is hosting a virtual information session on Thursday, Aug. 8, at 6 p.m. that will focus on crime in the Encino, Tarzana and Woodland Hills neighborhoods.
It will also feature a Q&A session with representatives from the Los Angeles Police Department, District 3 and Mayor Karen Bass' office.
To RSVP, click here.
Meanwhile, anyone with information on Wednesday's break-in is urged to contact police.