On July 9, Inditex, the parent company of ZARA, announced that it has acquired a stake in Galy, an innovative U.S.-based agricultural startup, as part of its strategy to invest in a sustainable economy.
At Inditex’s annual general meeting, CEO Garcia Maceiras explained this significant investment to shareholders, stating, “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.”
Founded in 2019 by Luciano Bueno in the United States, Galy is a lab-grown agricultural company that has since expanded its operations with an office in São Paulo, Brazil.
Inditex had already invested in another U.S. company, Circ, in 2022, which focuses on fiber-to-fiber recycling, and signed agreements with recycled fiber producers. This investment supports Inditex’s goal of sourcing 40% of its textiles from conventional recycling and 25% from next-generation materials by 2030.
Inditex has pledged to halve its overall emissions by 2030. In 2022, the company invested in Circ, a U.S. company focused on textile-to-textile recycling, and signed agreements with producers of recycled fibers. This investment contributes to Inditex’s goal of sourcing 40% of its fibers from conventional recycling and 25% from next-generation materials within the next decade.
By investing in Galy’s groundbreaking agricultural technology, the company is demonstrating its continued dedication to environmental sustainability and innovation.
The exact scale of Inditex’s investment in Galy has not been disclosed.