Five teenagers have been charged over an armed robbery at a Toorak jewellery store. 

It was the second such incident at Dennis Kelleway’s Toorak store since October.

Police confirmed on Monday that four 16-year-olds and a 17-year-old have been arrested.

They have been remanded in custody until they face a Children’s Court at a later date.

Police taskforce Operation Fuller is continuing to investigate a spate of jewellery heists.

In response to the alarming trend, the jewellery retail industry has held a crisis meeting with James Merlino, who was acting Premier at the time.