UPS Capital, a subsidiary of UPS, has acquired Parcel Pro, an independent logistics provider for the jewelry, watch and collectibles industry. Parcel Pro provides online tracking and visibility, e-reporting, web access and shipping, including via smartphone applications.
Ronald Chang, president of UPS Capital, said that many jewelers have insurance policies that cover their inventory, but that insurance doesn’t always cover shipping losses. UPS Capital and Parcel Pro will be able to insure shipping within the United States up to US$150,000 in value per package and $100,000 to select international locations; most shipping insurance is limited to $50,000 in the U.S. and $500 internationally in value per package. The increased maximums allow companies to ship more items in one package, which is easier and more cost effective.
The company has locations in the major jewelry districts of New York, Los Angeles, San Francisco, Miami, Hong Kong, Tokyo and Singapore and provides local customer service, as well as armed guard pick-ups and deliveries in New York, Los Angeles and Beverly Hills, California.