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prada flats outlet profit to 891 million, or $1.475 billion.LMVH is one of a number of luxury goods companies to surprise analysts and investors with strong results in recent weeks.Hermes International posted a 12.8% rise in first half sales, lifted by demand for its trademark silks, handbags and perfumes in Asia, Europe and the Americas.Switzerland's Compagnie Financiere Richemont, which owns the Cartier and Dunhill brands, posted a 13% rise in sales to 1.43 billion $2.4 billion in the three months to 30 June.PPR SA, the world's third largest luxury goods company, said second quarter sales rose 4.4% on demand for Gucci, Yves Saint Laurent and Bottega Veneta.British fashion house Burberry smashed market expectations with a 26% rise in revenue, helped by strong accessories sales and early receipts from its autumnwinter ranges.Closer to home, luxury car sales soared 23% in June, with sales of Mercedes Benz and BMW particularly strong. While this increase was mainly due to buyers trying to beat the rise in luxury car tax rise on 1 July, it does prove that there are plenty of Australians with money for nice things.So how is it that these luxury brands are doing so well?For a start, it should be noted that the super rich spend regardless of the economic climate. While most of the luxury goods companies have diversified in the last decade by creating lower priced brands or product lines, it is these mass market ranges that are being hurt most by the downturn. The super rich have plenty of money, but the comfortably wealthy have shut their purses.Second, luxury brands can enjoy what analysts call the "flight to quality" in troubled economic times. Instead of buying several pairs of $300 shoes, the high powered Wall Street banker might save her bonus money and buy one $700 pair of high quality stilettos that she will see as a sort of investment piece in her wardrobe. "In the current environment, we will see consumers showing a flight to quality, where the best in class brands outperform disproportionately the least differentiated players," Goldman Sachs said in a recent client note.Third, luxury brands have plenty of pricing power. Put the price of a $100 watch up to $150 and customers will turn