The most common and most likely answer to this crossword clue is the 7 letter word HEMLINE
I've seen this crossword clue in Financial Times
H
E
M
L
I
N
E
More clues leading to the result HEMLINE
- The height of women's fashion?
- Gas left in mine that fluctuates around the knees
- Queen saves English brand, the height of fashion?
- Pins and needles may raise it
- Male left in pit in lowest level for shift, for instance
- Frock length? Man, your setter’s clothing length’s fashionable
- Englishwomen tailored gowns? It will surely be below the knee
Buddy explains!

The straight part
We know that "height of fashion?" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case height of fashion? = hemline.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does HEMLINE mean?
HEMLINE noun- The line formed by the bottom edge of a skirt, dress, or coat; hem.
- The height of this line, measured from the floor.