Leather making a comeback with chic designer (5)
I believe the answer is:
klein
'designer' is the definition.
(Calvin Klein)
'leather making a comeback with chic' is the wordplay.
'leather' becomes 'elk' (type of leather).
'making a comeback' says the letters should be written in reverse.
'with' says to put letters next to each other.
'chic' becomes 'in'.
'elk' reversed gives 'kle'.
'kle'+'in'='KLEIN'
(Other definitions for klein that I've seen before include "Calvin ..., fashion designer" , "who is warning about climate change?" , "A -- bottle is a closed surface with just one side" , "no capacity for the bottle?" , "Psychoanalyst" .)