Undetermined agencies were invited to attend meetings at the company's headquarters in Milan, Italy, earlier this month. First-round pitches are slated to take place later this month.
Publicis Groupe's Leo Burnett, Italy, will defend the Breil account, according to the agency's spokeswoman.
Includes other brands
The account is said to include advertising duties for watch brands Wyler Vetta and Tribe, as well. WPP Group's United, London, handles the Tribe account, but the shop did not return inquiries about its status in the review.
Binda Group did not immediately respond to requests for comment.
Breil watches, originally launched in 1942, were relaunched in 1994 with a campaign featuring models Monica Bellucci and Carre Otis.
Jeremy Mullman contributed to this report.