Ermenigildo Zegna expects profits to grow substantially in 2010.

The growth will come as the men’s wear brand marks its 100th anniversary and as Zegna reorganizes its business structure to simplify its financial operations. The company has incorporated its Dutch subholding company, Ermenegildo Zegna NV, into the Italian-based holding company Ermenegildo Zegna Holditalia, retroactive to Jan. 1, 2010.

Zegna reported a small loss of 543,000 euros, or $749,000, in the first half, although there were 2009 dividends that were not yet accrued and will be booked in the second half. This figure was incorrect in a story on page 3, Wednesday.

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