RiftGrate passed along an officially released screenshot showing the upcoming wardrobe revamp. The new system will allow players to break down gear, thereby saving it forever to the wardrobe UI. The collection screen will also show you what pieces you’re missing from the different armor slots.
The new system also appears to include options to retrieve information on dyes and to equip cosmetic weapons and shields.[Source: RiftGrate. Thanks to Omedon for the tip!]