Give up returning fashionable decadent clothes (4)
I believe the answer is:
cede
'give up' is the definition.
('cede' can be a synonym of 'give up')
'returning fashionable decadent clothes' is the wordplay.
'returning' says the letters should be written in reverse.
'clothes' indicates a hidden word (the letters clothe the hidden word).
'edec' can be found hidden inside 'fashionable decadent'.
'edec' reversed gives 'CEDE'.
(Other definitions for cede that I've seen before include "Deliver" , "Surrender or yield" , "Give up one's rights" , "Relinquish control of" , "Give up rights or possession" .)