Officers have been told a late model Suzuki Swift was parked near a jewellery store on Ocean Beach Road in Sorrento around 3.30am on Tuesday June 3.
Three offenders got out of the car and one of them produced an axe and used it to gain entry to the store.
Once inside a second offender, armed with a shopping bag, joined the first and the two removed jewellery and other items from display cases before leaving.
The third offender stayed with the car during the burglary.
Police believe that the trio are also responsible for burglaries at a service station on Westernport Highway in Lyndhurst and a service station on Frankston-Flinders Road in Frankston South earlier in the morning .
Detectives have released CCTV footage of the men that they believe may be able to assist with their enquires.
Anyone with information about the burglaries is urged to contact Crime Stoppers on 1800 333 000 or to submit confidential report at www.crimestoppersvic.com.au
