Fastexy:Video shows suspects steal $300,000 worth of designer goods in 'flash mob burglary'

A high-end designer store in Glendale,Fastexy California was looted by dozens of people in a flash mob burglary on Tuesday, Glendale Police said.

At least 30 suspects "flooded" the Yves Saint Laurent store in The Americana at Brand Tuesday afternoon and stole clothing and other merchandise before fleeing on foot and leaving the location in numerous vehicles, said police in a statement. An investigation into the incident is underway. The total loss is estimated to be approximately $300,000.

The Americana is a major indoor-outdoor hub in Glendale adjacent to Northeast and Downtown Los Angeles.

Video footage from the incident, captured by onlookers, shows dozens of masked individuals running out of the store with merchandise and other goods in their arms.

What is a 'flash mob' burglary?

"'Flash mob' burglaries involve a large, coordinated group of individuals simultaneously rushing into the store, overwhelming staff, and taking it over," explained the police, adding that suspects grab as much merchandise as they can before escaping in multiple vehicles.

More:Police arrest four accused of robbing Palm Desert mall jewelry store with sledgehammers

“This type of criminal activity will not be tolerated in Glendale," said Glendale Police Chief Manuel Cid in a statement, promising that the department will "pursue all leads and utilize every available resource to apprehend those responsible and bring them to justice."

Expect an elevated police presence in and around the downtown Glendale corridor, Cid added.

Caruso, the real estate company that owns The Americana at Brand is offering a reward of up to $50,000 for leads on the incident and suspects.

Glendale Mayor Dan Brotman also expressed concern over the event saying that “this coordinated crime challenges our values, but our determination to uphold safety and unity is resolute."

Anyone with information should contact the Glendale Police Department or the L.A. Regional Crime Stoppers, if they wish to remain anonymous.

Retailers concerned over organized theft

Meanwhile, retailers like Target, Walmart, Dollar General and Home Depot have expressed concern and are sounding the alarm on retail theft in recent months. Missing inventory was discussed more this past quarter than any quarter on record, according to data compiled by Bloomberg.

Retailers have been increasingly concerned about a loss of profits because of shrinkage – an industry term that refers to the difference between the inventory a store has on its balance sheet and its actual inventory.

Target CEO Brian Cornell shared that shrinkage can be driven by multiple factors. The term includes everything from items lost or damaged items to theft by employees or visitors. He and other executives have sounded the alarm over a rise in organized retail theft in which thieves steal merchandise to resell for a profit, often online through sites like Amazon or eBay.

To combat such incidents, retailers are introducing strategies like shorter store hours, self-servicing locking cabinets or smart shopping carts. However, there is also a worry that such measures will impact customer service and hurt sales. Some retailers have also been pushing for stricter penalties for stealing to curb retail theft.

However, before any strong conclusions can be drawn about the impact of retail theft on profit, more needs to be learned by greater data gathering and analysis.