what if my device gets stolen after delivery, before activating and connecting it to my ICloud? Can then, the watch be tracked?

Hi, everyone!

I have an important question prior to ordering a new apple product - apple watch. So basically, my question is, what if my device gets stolen after delivery to my address, but before activating and connecting it to my ICloud? Can then, the watch be tracked and found where it is with its serial number, if the device has not been activated yet?