Material that’s grand in fashionable shift (7)
I believe the answer is:
Here is my best explanation:
'shift' is the definition.
'material that's grand in fashionable' is the wordplay.
'material' becomes 'real' ('real' is associated in meaning with 'material').
'that's grand' becomes 'g' ('G' can be a synonym of 'grand').
'in' means one lot of letters goes inside another.
'fashionable' becomes 'in' ('in' can be similar in meaning to 'fashionable').
'g' placed into 'in' is 'ign'.
(Other definitions for realign that I've seen before include "Change position (of something)", "Arrange again", "Order again", "return to proper position", "new dressing", "group on a new basis", "Again order", "Dress", "Change to a new position" and "Apply".)