I used to read the Banana Republic catalogues religiously. I was a Banana Republic fan before it was "cool" --- and certainly before it was purchased by the Gap in 1983.
Since then, it has grown into a brand-name behemoth. But it still has retained its core offerings. Namely, casual and career wear, with a safari-inspired flair.
What's changed is 1) variety, with more dresses, more color, and specialty sizes such as petite and big-and-tall. And, 2) price.
They really do have lovely clothes. But who pays $68 for a tank top?