NEW YORK, Jun 13, 2002/ --- In the days of matching tube socks and sweaters, The Limited loomed large.

In more recent times, though, a trip to the mall staple offered little more than bland basics.

"The Limited was going for that whole Americana thing in '97 and '98. It was all about freedom and wide open spaces, but it just got too basic," says Wanda Gierhart, the company's vice president of marketing, at the Limited Brands world headquarters in Columbus, Ohio.

But now the company is taking the word "update" to heart, changing the name of their umbrella company to Limited Brands from The Limited Inc., and churning out looks that appeal to today's shopper.

In fact, The Limited is experiencing a quiet but complete overhaul.

As Gierhart explains it: "The brand is now focused on fun, sophisticated pieces; classic trends."

The Limited was founded in 1963 as a mall-based retailer selling sports and work wear.

By 1995, what that meant was a watered-down version of All-American style, typified by an over-dependence on a red, white and blue color scheme that extended to everything from stationery to advertising campaigns.

The Limited Flagship Store in Columbus,OH

The Limited circa 2002 is transforming into something slicker and more sophisticated.

Nothing has been left unchanged, from the clothing tags, to the bags, to the stores themselves.

The Ohio flagship is further proof of the new and improved Limited. The 8,000-square foot store (called the "niche" design in Limited lingo) has a lighter, warmer feel than the dated, glossy black lacquer look that Limited customers are familiar with.

The Limited Flagship Store in Columbus,OH

Flag tiled floors, cream lacquer and leather tiled walls, dark wood display stands and fixtures are clean and contemporary. The new design is low-key, but also a little highbrow.

An important part of the design concept is the mannequins, which are positioned on centralized platforms and show the season's key looks. There are also helpful mannequins by the racks that highlight featured looks.

The Limited Flagship Store in Columbus,OH

While The Limited hopes to eventually revamp all of its stores along these lines - there are 354 in the U.S. to date - the logistics of such a project are both pricey and problematic.

"The stores are in all kinds of different locations with various architectural features," explains Tom Katzenmeyer, Vice President of Investor Relations for Limited Brands.

"We are trying to keep the brand streamlined so every element of it is up to date, but with so many stores it takes a bit of time."

The Limited Flagship Store in Columbus,OH

The immediate answer to this dilemma is to renovate the "high performing stores such as those in L.A, Florida and Ohio," Katzenmeyer notes, and then address lower-traffic locales.

No matter the locale, what is always impressive about The Limited stores is the price point. Nearly everything is under $100, which bests price points for main competitors like Banana Republic and Ann Taylor.

The Limited Flagship Store in Columbus,OH

"Our customer is a 26-year-old sophisticated, career-minded woman who wants classic style at a reasonable price. We are trying to offer everything for all of her needs," Katzenmeyer explains.

"We have great sourcing and that is how we manage to keep the costs down," Gierhart points out. "We have whole teams of people sourcing fabrics and factories and so on. We want to be known for high-end quality pieces at low prices."

As the company moves into this modern and sophisticated phase, though, some prices, too, will be more mature. For fall 2002 Limited is introducing a few leather and suede pieces (real, not faux) which exceed the $100 mark, but are still very acceptably priced.

The company has also started an extensive collection of leather accessories including wallets, purses, travel boxes and even luggage -- all designed in the new, stylish Limited vein.

The Limited Flagship Store in Columbus,OH

The Limited Flagship Store in Columbus,OH

The Limited Flagship Store in Columbus,OH

The Limited Flagship Store in Columbus,OH