The review is being run from the company's headquarters in Milan, Italy, with marketing manager Stefano Bartolucci overseeing the pitch process.
Last week, Binda Group invited agencies to pitch for the business, but has not yet drawn up a shortlist of contenders. First round pitches are set to take place later this month.
Amsterdam-based Strawberry Frog confirmed that it had been invited to pitch.
The account also includes advertising duties for Wiler Vetta watches and Tribe by Breil.
Leo Burnett handles creative duties for Breil, while 1860 United produces advertising for the Tribe brand. It is not yet clear if the incumbents will repitch for the accounts.
In the UK, Binda licenses its Breil and D&G watch brands to Seiko UK. Breil watches, which date back to 1942, were relaunched in 1994 on the back of a high-profile marketing campaign featuring models Monica Bellucci and Carre Otis.
In 2001, the company rolled out it first steel Breil jewellery collection, which was followed by the launch of Breil leatherwear in 2003.