Burkitt DDB was the incumbent on the retailer's communications planning business, but it lost the business when the £13 million creative account exited earlier this month.
A pitch for the business was scheduled to take place later in the year.
John Lewis is still thought to be holding a media buying pitch, which will be handled by the company's marketing director, Andrew Woodward. Its account is currently held by OMD.
John Lewis currently spends its advertising budget predominantly in press. Acc- ording to Nielsen Media Research, it pumps £9.9 million into the sector with an additional £2.1 million on TV and £2.3 million on direct marketing. Naked declined to comment on the story.
Last month, the John Lewis Group retailer Waitrose held a separate media planning and buying pitch for its £9 million account.
Manning Gottlieb OMD scooped the business after a five-way review that involved Media Planning Group, MindShare, Vizeum and Universal McCann.
Lowe won John Lewis' creative account after a pitch against Delaney Lund Knox Warren & Partners and the incumbent, Burkitt DDB.
The agency now has a brief to create a brand campaign for the retailer, which will run across all communication channels.
A John Lewis spokeswoman denied a decision had been made. She said: "Naked has not been taken on. The buying pitch is going ahead. Chemistry meetings will conclude in early August, with a decision due in October."