Currently, social bookmarking systems provide intuitive support for browsing locally their content. A global view is usually presented by the tag cloud of the system, but it does not allow a conceptual drill-down, e. g., along a conceptual hierarchy. In this paper, we present a clustering approach for computing such a conceptual hierarchy for a given folksonomy. The hierarchy is complemented with ranked lists of users and resources most related to each cluster. The rankings are computed using our FolkRank algorithm. We have evaluated our approach on large scale data from the del.icio.us bookmarking system.