NewsJul 29, 2026, 17:23 UTC

Must Had lands €1M to help fashion brands manage unsold stock as EU ban kicks in

What's the deal? Must Had, a Milan-based startup founded in 2021, has raised €1M in an early VC round. Alante Capital and Style IT — a FashionTech program by CDP Venture Capital SGR, Startupbootcamp, and GELLIFY — co-led, with NextSTEP and Ragnarson also participating.

What's the endgame? Must Had runs an automated platform that connects fashion brands with more than 300 vetted circular operators specialised in recycling, resale, upcycling, and donation. Everything is tracked and reported in real time.

Why now? From July 19, 2026, the EU's Ecodesign for Sustainable Products Regulation (ESPR) bans the destruction of unsold goods for fashion brands, adding annual reporting obligations. Must Had positions its platform as a compliance tool for that shift.

The startup says clients ranging from mass market to luxury have cut manual labour costs by 44%, storage costs by 30%, and disposal costs by 18%. Roughly 35% of textile materials become waste before being sold, wiping out over $500 billion in value globally each year.

What's the money for? Must Had plans to hire commercial and tech staff, speed up product development, and expand geographically, targeting a doubling of revenue in 2026 over the prior year.

"Giving new life to what already exists is not just good for the planet, it is the smartest response to a world where raw materials are becoming increasingly scarce and costly," said co-founder Matteo Aghemo.

The signal: Regulation is turning fashion's waste problem into a business case, and investors are following. As Alante Capital co-founder Leslie Harwell put it, the ESPR rules provide "tailwinds for an already clear business case" — one that a US fund and European backers are now betting on together.