High-class (5)
'high-class' is the definition.
(I've seen this in another clue)
This is the entire clue.
(Other definitions for elite that I've seen before include "Select body, cream" , "Aristocracy" , "Choice; best" , "High society" , "Selected as the best" .)
(Other definitions for upmarket that I've seen before include "high quality" , "Suitable for affluent consumers" , "Aimed at those with money" , "for wealthy consumers" , "Demanding higher prices" .)