The collar, which is grey with black tips running through it, was taken from Marc2 Shoe Store on Tuesday.
It had been resting on a display stand in the Bath Street outlet, and was believed to be stolen between 16:05 and 16:08.
Police are urging any witnesses to the incident or anyone involved to come forward with information.
Pictured: A mannequin being dressed inside the Bath Street store from which the collar was stolen on Tuesday. (Marc2 Exclusive Shoes)
They should contact PC 736 Luis on 612612.