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Zara owner Inditex buys stake in U.S. sustainable agriculture startup Galy

Zara owner Inditex buys stake in U.S. sustainable agriculture startup Galy

Listen to this story:
  • Inditex acquires a stake in U.S.-based Galy, a pioneer in lab-grown cotton.
  • CEO Oscar Garcia Maceiras announces investment at the annual assembly.
  • Strategic move to bolster Inditex’s commitment to the sustainable economy.

Inditex’s Strategic Move

Zara owner Inditex (ITX.MC) has acquired a stake in the U.S.-based sustainable agriculture startup Galy. This investment is part of Inditex’s broader strategy to support the sustainable economy, as announced by CEO Oscar Garcia Maceiras during the company’s annual assembly.

Innovative Cotton Production

Today, we are disclosing that we have entered the capital of Galy, a startup founded in 2019 in the U.S., which is developing an innovative process to produce cotton in laboratories from plant cells,” said Garcia Maceiras. This groundbreaking method aims to revolutionize cotton production, potentially reducing environmental impact.

Related Article: Zara Owner Inditex, partners with Maersk to Reduce its Maritime Transport Emissions

Undisclosed Stake Size

While the exact size of Inditex’s stake in Galy was not disclosed, this move signals a significant step towards integrating more sustainable practices within the fashion industry. By investing in innovative technologies like those developed by Galy, Inditex demonstrates its commitment to environmental sustainability and innovation.

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