Clothing is the worst offender here. Impossible to recycle. The quality would not be good enough and the price is too high. It is a huge waste of resources.
Upcycling (e.g. repurposing) works with some materials, though, however, with very low efficiency.
Europe is moving towards reducing fast fashion therefore. This is a good thing in general, but I don't see this change in the US / Asia. And very slowly also in Europe.