Albion beat VCCP and St Luke's and will develop a campaign to include above-the-line advertising, digital communication, trade and in-store media. The first campaign is due in September.
The appointment coincides with a new range ahead of its autumn/winter collection. It is looking at new ways of appealing to customers.
In recent years, Accurist has created most of its advertising in-house. Its last retained relationship was with TBWA GGT Simons Palmer in 2000.
The watch-maker, famous for its sponsorship of the speaking clock, had often come under fire from the Advertising Standards Authority for its shock campaigns.
One of the most notorious was TBWA's "put some weight on" of 1998, featuring an emaciated woman with a watch on her biceps - not her wrist.
Jason Goodman, the managing director of Albion, said: "Accurist has fallen off a few people's radar but still has incredible latent goodwill. With the right advertising we can unlock the potential and bring new energy to the brand."
Media will still be handled by Manning Gottlieb OMD.