The company has approached a number of UK shops with a brief for a big, 360-degree idea. It is unclear whether Diesel's incumbent, the Publicis hotshop Marcel, is involved in the project.
The project comes as Diesel's former agency KesselsKramer prepares to launch a UK office. KesselsKramer enjoyed a long relationship with Diesel, and won a Cannes Gold Lion for its work on the account.
A source close to the fashion company said the winning agency would be well placed to take a wider role on the fashion line as it gears up to celebrate its 30th anniversary next year.
A spokeswoman for Diesel denied the company was considering making any changes to its advertising arrangements.