Though Playboy magazine is now defunct, the Playboy brand still exists - and it's still a luxury label.

What does that mean?

It means that the Playboy name can be used to sell products that are seen as high-end and luxurious. For example, Playboy has a line of watches that cost thousands of dollars each. The watches are engraved with the Playboy logo and meant to be flashy, sexy statement pieces.

The watches were first released in 2012 - a year after the flagship Playboy magazine folded its print edition. The first run sold out within a few months of going on sale. And now they've been re-released for 2017. Playboy says they still anticipate selling out of their 2017 watch offers, as they did in 2012. Another example of a high-end product is the Playboy car. In 2010, Playboy collaborated with Tesla Motors on a concept car that was meant to be a luxurious and sexy electric vehicle. So every time you see one of those cars driving down the street, it's basically advertising Playboy. Even the Playboy Mansion is now a luxury hotel.

So, what does all this mean for Hugh Hefner's legacy?

On one hand, it could be seen as a sign that he's been successful in moving Playboy beyond its roots as a nude magazine. On the other hand, some people might argue that by making Playboy luxury items, the company is stepping away from Hefner's original vision for the brand - to make it a popular magazine with widespread appeal.

Regardless of how you feel about the direction Playboy has taken in recent years, there's no denying that it remains an empire worth hundreds of millions of dollars and continues to be relevant today. Even though Playboy magazine is no longer around, the brand is still going strong. It seems that Hugh Hefner's legacy will live on in the form of luxury Playboy products. Whether or not that's a good thing remains to be seen. But one thing is for sure - Playboy isn't disappearing anytime soon.