Art of homeware dealer hemming raised collar (7)
I believe the answer is:
ikebana
'art' is the definition.
(Japanese art of flower arranging)
'homeware dealer hemming raised collar' is the wordplay.
'homeware dealer' becomes 'Ikea' (homeware brand).
'hemming' indicates putting letters inside (hem can mean to enclose).
'raised' shows that the letters should be reversed in order (going up in a down clue).
'collar' becomes 'nab' (both can mean to catch a person).
'nab' reversed gives 'ban'.
'ikea' going around 'ban' is 'IKEBANA'.
'of' is the link.
(Other definitions for ikebana that I've seen before include "Jap. flower arranging" , "Art of Japanese flower arrangement" , "Artfully fixing bloomers" , "Japanese flower-arranging art" , "arrangement of flowers" .)