When you buy clothes, you can not only limit the amount you buy, but also only go shopping for clothes when you have a specific item in mind. You can also purchase secondhand clothes to reduce the amount of new and low-quality items being purchased. Also try to buy durable clothing that you know will last, otherwise it may fall apart after a matter of a week.
When you no longer want to keep an item of clothing, you can give it to a friend or family member or even donate it to a charity shop. Clothing swaps are also a great way to get rid of old clothes and find new ones. If you think it's worth it, you can also sell the clothes on a secondhand store like Vinted. If the item is far beyond repair, you could use it as a rag to clean around the house or turn it into a cloth napkin.
Some towns have taken it upon themselves to recycle fabric waste. Check out this video from theBBCon whats going on in Prato, Italy:
However, large scale operations aren't the best choice for a single person. The suggested route is to avoid just throwing out old clothes at all costs. This can mean handing them in to a clothes drop-off point that can usually be found outside chain stores or fire stations, or giving them a new life with any decent fabric they have left.