The pitch, believed to be run though R3, is understood to include five agencies: regional incumbent Universal McCann, PHD, the incumbent agency in China, and ZenithOptimedia, Carat and OMD.
Three agencies are believed to have been shortlisted with second-round chemistry meetings taking place this week.
The markets involved in the pitch are understood to include mainland China, Hong Kong, Taiwan, Korea, Singapore and Malaysia.
The Chinese market is thought to be especially important to the luxury brand. The company opened its third store in Shanghai earlier this year and, by the end of the first quarter, it operated 11 stores in China.
Tiffany & Co officials said they plan to have a total of 30 stores in China within the next five years.
Last year, Tiffany & Co became the latest luxury brand to embrace online initiatives in the Chinese mainland with a large-scale launch of a through-the-line digital campaign for its Tiffany Keys collection.
In the Asia-Pacific region, (excluding Japan), Tiffany & Co's revenue soared 50 per cent to US$122.3 million in the first quarter.
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