Sheerness embracing King and Crown with one last word (7,3)
I believe the answer is:
dernier cri
'one last word' is the definition.
(term for latest fashion from French 'latest cry')
'sheerness embracing king and crown with' is the wordplay.
'sheerness' becomes 'denier' (denier can mean sheer material).
'embracing' indicates putting letters inside.
'king' becomes 'R' (abbreviation for rex, king in Latin).
'and' says to put letters next to each other.
'crown with' becomes 'cri' (I can't justify this - if you can you should believe this answer much more).
'denier' enclosing 'r' is 'dernier'.
'dernier'+'cri'='DERNIER CRI'
Can you help me to learn more?
(Other definitions for dernier cri that I've seen before include "The last word" , "The latest thing" , "Very fashionable" .)