The company has locations in the major jewelry districts of New York, Los Angeles, San Francisco, Miami, Hong Kong, Tokyo and Singapore, as well as armed guard pick-ups and deliveries in New York, Los Angeles and Beverly Hills, Calif.įinancial details of the acquisition were not disclosed. Parcel Pro’s proprietary technology platform provides online tracking and visibility, e-reporting, web access and shipping, including via smart phone applications. The merger is also intended to assist high-value jewelers and watch retailers, who often organize shipping, insurance and logistics on their own. UPS Capital said that by merging its services with those of Parcel Pro, it will be able to insure shipping within the United States for up to $150,000 in value per package and internationally to selected countries for up to $100,000 per package. This means that companies have to split up shipments, leading to increased transportation and labor costs. The market for luxury items has flourished internationally over the past decade, UPS said, while most shipping insurance is limited to $50,000 in the United States and $500 internationally in value per package. Many jewelry retailers have insurance policies that cover their inventory, but shipping losses are not always covered by these policies.” “The acquisition enhances our supply chain risk mitigation capabilities, providing global logistics expertise and peace of mind to customers who need to ship their valuable goods. Read reviews, compare customer ratings, see screenshots, and learn more about Parcel Pro: Tax Property Guide. “The synergies between UPS Capital and Parcel Pro will greatly benefit customers shipping high-value products,” said Ronald Chang, president of UPS Capital. UPS Capital, the supply chain financial, insurance and payment service subsidiary of the global integrator, on Monday said it has acquired Parcel Pro, a logistics provider to the jewelry, wristwatch and collectibles industries. Updated service standards files for FCPS and Package Services are available on PostalPro.UPS Capital’s purchase of Parcel Pro is intended to help global shippers of watches, jewelry and collectibles increase insurance coverage and lower transportation costs. Packages containing hazardous materials or live animals and entered as Retail Ground or Parcel Select Ground will continue to receive Package Services service standard from all origins and destinations. The following 3-digit origin and destination ZIP Codes are considered offshore (OCONUS): 006-009, 967-969, 995-999. Retail Ground or Parcel Select packages originating or destinating to offshore locations outside of the contiguous United States (OCONUS) will continue to receive Package Services service standards between 2-16 days. Service Standards for Retail Ground or Parcel Select Ground packages originating and destinating within the contiguous United States (CONUS) will reflect First Class Package Service (FCPS) service standards of 2-5 days. ***NEW***Service Standard changes for Retail Ground and Parcel Select Ground (Effective 8/1/22)Īs of Augthe service standards for Retail Ground and Parcel Select Ground have changed.
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