Louis Vuitton raid: three arrested after designer handbag heist

Three men are behind bars, accused of smashing through the glass doors of Louis Vuitton's flagship store in Sydney's CBD during an attempted handbag heist.

Police arrested the would-be thieves after they allegedly smashed through the side door of the designer store on George Street and set off an alarm about 12.45am on Thursday.

The attempted robbery comes after the luxury store was ram-raided in February.

Officers surrounded the store within five minutes but it took another hour before the men were allegedly found with their handbag haul in a basement car park.

Police allege the men, aged 32, 18 and 19, had planned to escape in a stolen Audi parked out the front of the building.

The men were accused of trying to steal thousands of dollars worth of designer handbags and accessories. Police also expect they will face a number of property charges after they damaged a number of fittings within the store.

A large perimeter was set up around King, York and George streets as officers from City Central, The Rocks and Kings Cross searched the area.

Three police dogs helped during the hour-long search of the complex.

Shattered black glass was still visible on the footpath on George Street on Thursday morning, with blue and white police tape sealing off the building's side entrance.

A Louis Vuitton spokeswoman said the average price of the standard handbag range would set customers back between $1500 and $2000.

Exotic Brea bags made from alligator, snake and crocodile skins retailed between $30,500 and $50,000.

Made-to-order bags and one-off editions could fetch even higher prices, the spokeswoman said.