The review includes the media business for Coty’s Prestige business and its Beauty division.
The pitch process has been run by Coty’s international marketing director Sigrun Graeff.
The reappointment has been confirmed by a Coty insider who admitted the company was impressed with the expanding Maxus network but OMD provided a strong defence.
A Coty spokesman said OMD is expected to sign a new contract before the end of the week.
According to The Nielsen Company, Coty spent £25m on media in 2008, including £12m on TV and £11.3m on press.
Coty was founded in Paris in 1904 and since its acquisition of Unilever’s fragrances division (UCI) in May 2005 can claim to be the world's largest manufacturer of mass-market fragrances.
Coty Beauty brands include adidas, Pierre Cardin, Rimmel and Stetson while Coty Prestige includes brands Calvin Klein, Chloé, Jennifer Lopez, JOOP!
The company is also known for its cooperation with celebrities and has created fragrances for stars including Celine Dion, David and Victoria Beckham, Desperate Housewives and Shania Twain, Vivienne Westwood.
At the end of last year, Chelsea goalkeeper Petr Cech agreed to become the face of Coty’s Adidas Active men's body care products.
For 2008, the privately-held company reported net sales were up 26% to $4bn; $2.1bn for its prestige division and $1.9 billion for its beauty division. Coty's European operations generated the strongest growth, up 54%, followed by North America (23%), Asia (7%) and Africa (7%).
Despite the global economic downturn, chief executive Bernd Beetz is hoping to achieve annual sales of $5bn in 2010.
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