Presentations are already under way. Agencies chasing the business include Omnicom Group shops Arnell Group and Tribal DDB -- both which currently handle marketing duties for the brand -- along with Publicis Groupe's BBH and WPP Group's JWT, two executives said.
Diageo declined to comment, and agency representatives either declined to comment or could not be immediately reached.
Cuervo, the largest U.S. tequila brand by a healthy margin, was supported by roughly $30 million in domestic measured media in 2007, according to TNS Media Intelligence. Parent Diageo, meanwhile, last year spent a total of $173 million on U.S. measured media on its family of alcoholic beverage brands, which include Johnnie Walker, Bailey's, Smirnoff and Guinness.
Cuervo's top five markets globally are the U.S., Greece, Canada, Spain and Great Britain.
Of late, the tequila maker has stepped up marketing of its Jose Cuervo Platino brand, a premium silver tequila made of 100% blue agave, that retails for about $60 for a 750 ml. bottle.