Zara owner Inditex has bought a stake in U.S.-based sustainable agriculture start-up Galy as part of its strategy to pump money into the sustainable economy, its CEO Oscar Garcia Maceiras said Tuesday.

"Today we communicate that we have entered the capital of Galy, a startup founded in 2019 in the United States, which is developing an innovative process to produce cotton in laboratories from plant cells," García Maceiras told shareholders during the company's annual meeting.

He did not elaborate on the size of Inditex's stake.

(Reporting by Corina Pons and Inti Landauro; editing by David Latona; Spanish edition by Benjamín Mejías Valencia)