Franks, the biggest name in the industry in the 1980s, is said to be the inspiration for iconic TV comedy series Absolutely Fabulous. Her return to PR comes as the show is set to return to TV screens for three specials on BBC One later this year.
She left her London PR agency back in 1992 and set up Seed (Sustainable Enterprise and Empowerment Dynamics) after a stint in the US. The authority aims to promote femininity in business through learning programmes, support networks and events.
Now Franks has taken the top comms role at Fashion Rocks, which hosts international music events to raise money for charity and sells designer ranges online and in retail outlets.
'I wanted to make a real commitment to young people and Fashion Rocks is a great vehicle to do this,' she told PRWeek. 'It brings together two of my favourite industries, fashion and charity. It's great the brand raises funds for the Prince's Trust.' She added that Fashion Rocks would also be hiring an external PR agency.
Franks made a brief appearance in 2007 on ITV reality TV programme I'm a Celebrity Get Me Out Of Here but has otherwise kept a low profile.
Last year, she set up the women's business club and meeting venue B.Hive, which has a number of locations across the country. She will run a press office for Fashion Rocks from the club.
Earlier this year, Franks spoke to PRWeek of her regret about 'overreacting' to Absolutely Fabulous (21 January). Having previously denied that she was the basis for the character of Edina, played by Jennifer Saunders, she said: 'Now I think, what a compliment. I feel great affection for the show and the characters.'
Asked who has taken her crown as the doyen of PR, she said: 'Matthew Freud has had my crown for years. If I think of a big, good agency, I think of Freuds.'