See how one jeweler has grown to a prosperous business that sends precious goods to customers around the world.
“When I was a kid, instead of playing with toy trucks or cars, I played with watches,” says Adam Krief, president of Accuratime, an international watch seller. “They’ve been a part of my life since the day I was born.”
“We’ve been shipping more over the past few years than ever, and it’s important for us to have a partner like UPS to rely on."
Accuratime, based in Los Angeles, offers mid- to luxury-tier watch styles at discounted prices for consumers and wholesalers. As director of his four watch brands – Christian Van Sant, Jivago, Oceanaut and Seapro – Krief says that watches are now more of a unique personal branding accessory or piece of jewelry than a timepiece.
Growth over time
E-commerce changed the face of the watch industry. It enabled Accuratime to find customers around the world, whether they be individuals purchasing one special watch or jewelry retailers.
“We are essentially a 24/7 operation without any storefronts. This means more packages, more warehouse employees and more shipping,” Krief says.
UPS provides multiple pickups a day so that Accuratime can get out shipments going to both U.S. coasts and internationally. “Customers don’t care that we’re in different time zones, and this is where UPS coordinates so well with the required pickup times,” Krief says.
Protecting precious goods
“I want the whole world to have our watches and enjoy them, which is why UPS Capital Jeweler’s Elite Program™ has been so beneficial to our business. It’s important to know that when you’re sleeping at night, your high-value items shipping all over the world are also resting safely and securely with UPS. And, if something should happen, our business is covered for the full sales value of the shipment,” Krief says.
The jeweler’s packages are valued anywhere from $100 up to $100,000, so insuring them is important.
“We’ve worked with other shipping companies that provide insurance solutions in the past, but because of their limitations, we would have to separate shipments into smaller value amounts, leading to more paperwork, logistics and time. If there was ever an issue during shipping, it could take a long time to get answers, and it usually wasn’t the answer you wanted to hear.”
UPS provides the coverage the jeweler needs at a reasonable price with UPS Capital Jeweler’s Elite Program, offered through UPS Capital Insurance Agency Inc.
“You don’t want the customer to pay for the watch and then also pay to insure it. Using the UPS Capital Jeweler’s Elite Program made sense for us and for our customers. The program has also reduced the amount of time in terms of filing claims,” Krief says. “When you ship as much as we do, filing claims can be tedious and time-consuming, but since we began using the program, we’ve probably saved one-half of an employee’s time per month.”
Many moving parts
While e-commerce enables additional global growth, international logistics is nothing new to Accuratime. The company has been exporting and importing since its beginnings more than 35 years ago.
“Working with as many companies as we do, supply chains quickly become complex,” Krief says.
Some examples that illustrate this point are the four brands designed and manufactured by Accuratime: Christian Van Sant, Jivago, Oceanaut and Seapro. Each brand includes more than 200 watch styles. Accuratime’s designs are created at its home office in Los Angeles, but multiple versions of molds and prototypes are sent back and forth with partners in Switzerland and Asia until the perfect style is achieved.
“When you start to break down the right components for each watch, orchestrating every single detail from the right stem to the perfect band will make a supply chain expand exponentially,” Krief says. “Our assembly time is normally two to three months, and all decisions are based on when to sell and when to purchase – our supply chain must always be in line with customer demand.”
Predicting trends is important, but that requires the willingness to take risks, as well as the fast shipping of the latest watch styles. “We take risks every day, whether it’s sending goods to new retailers, creating new styles or developing the logistics for a new trade channel. Having our supply chain protected by UPS is an important part of making our logistics successful.”