How do I configure Thunderbird to locally remap the label-folder in an G-Mail IMAP account?

How do I configure Thunderbird to locally remap the label-folder in an G-Mail IMAP account?

I'm using G-Mail and Thunderbird together for an imap account. One of the limitations of G-Mail is that there's no concept of nested labels - which is fine when I'm using the account through the web interface but when I'm using Thunderbird I would like a bit more organization.