The assignment is currently handled by ZenithMedia but is due for review in August.
Although the agency has held the account for the last few years, analysts are tipping the business will change hands. However, several of Australia's large media outfits are understood to be reluctant to commit to the pitch due to concerns about the account's profitability and how it is handled in-house.
Fusion Media managing director Steve Allen is one of the reluctant agencies.
"You have to ask if are they a nice client to deal with or are they hell, do they empower you or do the belittle you, do they pay well or don't they?" Allen said. "And the rumours aren't complimentary."
Figures from Nielsen Media Research show Coles Myer spent $150 million on advertising last year. While this is an increase on previous years it is widely rumoured that Zenith was appointed on commission fees of just one per cent.
Coles has kept a tight lid on which agencies have been invited to pitch for the account. However, at least one other major player has been ruled out with Mitchell and Partners stating that it refused to pitch on the basis that it works for competitor Woolworths.
