People were scandalized, outraged -- but they flocked to Frederick’s for its special brand of gravity-defying garments nevertheless. Sales almost tripled in the 1970s, increasing from $9.7 million in 1971 to $24 million in 1976. At the same time, the company’s net income increased threefold, from slightly less than $500,000 to $1.5 million, undoubtedly spurred by such innovations as the Bird Cage bra, whose slogan -- "How he'll long to set you free!" -- was as close as Frederick’s ever came to women’s liberation.

Frederick's was also responsible for the first mass-produced thong (circa 1981) -- just the thing the average mall-walker wants to surreptitiously adjust while getting a pretzel at Auntie Anne's. That mismatch may be why Frederick's -- despite its gift for innovation -- went bankrupt in 2000. But like a naughty, corset-clad phoenix, it somehow managed to rise from the ashes -- albeit by softening the sleaziest parts of its image.

In a revamping that was also a de-vamping, Frederick’s began mainstreaming its collection, abandoning the crotchless panties and the metal-studded vinyl bodysuits, the whips and the ceiling mirrors (boldly advertised as “earthquake-proof”). Gone, too, were the bras with visible nipples thoughtfully built in, ''for that cold-weather look all year round.''

The company also began targeting younger customers -- those aged 18 to 35 -- but not with peekaboo teddies and marabou mules. Instead, Frederick’s debuted cotton boyshorts and comfortable tees -- not unlike those of its arch-rival, Victoria’s Secret.

And in a nod to the reality of American women’s lives -- and to the reality of their mall-built bodies, thanks to a strict Cinnabons-and-shopping fitness plan -- one-third of Frederick’s sales are now of plus-size merchandise.

The company’s advertising has even expanded beyond its venerable catalogue: Banner ads for Frederick’s can now be found on both MSN (MSFT) and Yahoo (YHOO), with nary a nipple in sight.

Some devotees must miss that old-fashioned ink-and-paper version, however -- if only because pin-ups are so hard to tear from the Web.