The review is expected to affect all of the cosmetics giant's below-the-line suppliers, including customer relationship marketing, online, promotions, design and print.
The company, whose brands include Kerastase, Garnier and Maybelline, is thought to have issued a request for proposal to roster agencies, indicating its intention to consolidate its business into fewer agencies. It is not clear if non-roster agencies will be invited to pitch.
WWAV Rapp Collins handles the company's direct marketing in the UK. MRM Worldwide handles it across Europe. The decision to improve efficiencies across its DM roster follows last year's media review, in which the entire £1 billion pan-European account was consolidated into ZenithOptimedia.
The agency previously shared it with Universal McCann, which held the bulk of the account before the review.
Earlier this year, L'Oreal hired R/GA to handle its global digital account, after the Interpublic-owned network beat eight others to the task.