Restore two kinds of fabric (7)

I believe the answer is:

replace

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'restore' is the definition.
(thesaurus)

'two kinds of fabric' is the wordplay.
'two kinds of' becomes 'rep' (I can't explain this - if you can you should give a lot more credence to this answer).
'fabric' becomes 'lace' (lace is a kind of fabric).
'rep'+'lace'='REPLACE'

Can you help me to learn more?

(Other definitions for replace that I've seen before include "Substitute for (someone)" , "succeed" , "Put back or substitute" , "Put back in original position" , "Substitute, supersede" .)

I've seen this clue in The Globe and Mail and The Telegraph.

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