The retailer is said to be in final-fee negotiations with the agency, after a pitch against MediaCom. ZenithOptimedia, the incumbent, declined to participate in a full pitch for the business.
Naked Communications works with Gap on its brand and communications strategy, and is unaffected by the review. Creative is handled by the US agency Laird & Partners.
Last week, Gap Inc announced a review of its Gap and Old Navy brand strategies in light of an 8 per cent fall in December sales.