Holler, part of the Leo Burnett Group, won the company’s global online ad business following a pitch process run by the client.
Panache has previously handled its marketing in-house, apart from its consumer PR.
Holler has been asked to drive awareness of Panache and encourage people to try the brand. The campaign will include a film as part of a wider content strategy.
Panache’s head of marketing, Jennie Bianco, said: "Holler demonstrated a deep understanding of our brand values and their passion and vision for this campaign was genuinely inspirational. We cannot wait to see it all come to life".
Holler’s managing partner, Paolo Nieddu, said: "Our core campaign idea is based on a powerful female insight that we believe has the potential to spark a genuine cultural movement whilst disrupting the well-worn clichés of the category."
Panache, which was launched in the UK in 1982, has offices in Sheffield, New York and China, and sells its products in more than 50 countries.