Details of the review are scarce and tightly guarded, but PRWeek understands there is no incumbent agency and the review is being directed from the Far East.
Chanel is one of the most presitiguous luxury designers and was ranked the 23rd most valuable brand in the world in the 2018 Best Global Brands report.
A Chanel spokesperson told PRWeek: "Chanel regularly has discussions with communications suppliers to ensure the company is fully aware of latest trends and capabilities and it is currently talking to a number of agencies within the PR category. Chanel is being assisted on this by The Observatory International London."
Last year, Chanel picked up silver in Branded Programme at the Brand Film Festival for its Fifth Sense work with i-D Media agency and VICE.