The retailer is now holding talks with two undisclosed London agencies about its £1.7 million advertising account. It has written a brief to increase footfall at its London, Manchester and Birmingham department stores.
News of the review comes as Mother prepares to launch a new brand campaign for Selfridges.
Mother won the Selfridges business in December 2002 after the retailer decided to consolidate its marketing efforts with one agency. Previously, it had used a portfolio of shops on a project basis.
The Mother partner Stef Calcraft said: "It has been a privilege to work with Selfridges over the years and it is only fair to let somebody else share in that experience now. The business is in great hands and will go from strength to strength."