Study manufacture of lace or hide (7)
I believe the answer is:
conceal
'hide' is the definition.
('conceal' can be a synonym of 'hide')
'study manufacture of lace' is the wordplay.
'study' becomes 'con' (I've seen this before).
'manufacture of' indicates anagramming the letters (I've seen this in other clues).
'lace' with letters rearranged gives 'ceal'.
'con'+'ceal'='CONCEAL'
'or' acts as a link.
(Other definitions for conceal that I've seen before include "'Hide, keep secret (7)'" , "Keep out of sight" , "Hide, cover" , "Place out of sight" , "hush up!" .)