UPS Capital acquires luxury items logistic specialist Parcel Pro

Parcel Pro was founded in 1997 and is the preferred shipping provider for the largest jewelry insurer in the United States, Jewelers Mutual

UPS Capital, a subsidiary of UPS which provides supply chain financial, insurance and payment services, announces the acquisition of Parcel Pro, the leading independent logistics provider to the jewelry, wristwatch and collectibles industries.

The market for luxury items has flourished internationally over the past decade, while most shipping insurance is limited to USD 50,000 in the United States and USD 500 internationally in value per package. This means that companies have to split up shipments, leading to increased transportation and labor costs.

UPS Capital and Parcel Pro together are able to insure shipping within the United States for up to USD 150,000 in value per package and internationally to selected countries for up to USD 100,000 per package. The increased maximums allow companies to ship more items in one package, which is logistically easier and more cost effective.

“The synergies between UPS Capital and Parcel Pro will greatly benefit customers shipping high-value products,” says Ronald Chang, president of UPS Capital. “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. Many jewelry retailers have insurance policies that cover their inventory, but shipping losses are not always covered by these policies.”

“Parcel Pro’s mission is to provide the most affordable, reliable, secure and convenient services for our industry customers to ship and insure valuable goods. We believe that the acquisition by UPS Capital supports our mission and will only benefit our customers, as well as UPS Capital customers who ship high-value items,” said Joseph Lam, chief executive officer of Parcel Pro. “Our customers will continue to receive best-in-class service and protection for in-transit goods, and also have access to the greatly expanded capabilities, financial strength and stability that come with UPS and UPS Capital.”

Many high-value jewelers and watch retailers, especially international companies, organize shipping, insurance and logistics on their own. With the acquisition of Parcel Pro, UPS Capital offers a turn-key solution enabling customers to ship these items more cost efficiently and more securely than ever before.

Parcel Pro’s proprietary technology platform provides online tracking and visibility, e-reporting, web access and shipping, including via smart phone applications. 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.

www.upscapital.com

Quelle: LogEastics
Portal: www.logistik-express.com