AVON PRODUCTS, INC. AND SUBSIDIARIES

EXHIBIT 21

AVON PRODUCTS, INC. AND SUBSIDIARIES

Subsidiaries of the Registrant

     Avon Products, Inc. (“Avon”), a New York corporation, consolidates all majority owned subsidiaries. The principal consolidated subsidiaries, all of which are wholly owned by Avon or its wholly owned subsidiaries, except as indicated, are listed below. Included on the list below are subsidiaries which individually are not significant subsidiaries but primarily represent subsidiaries in countries in which the Company has direct selling operations. The names of Avon’s other consolidated subsidiaries, which are primarily wholly owned by Avon or its wholly owned subsidiaries, are not listed because all such subsidiaries, considered in the aggregate as a single subsidiary, would not constitute a significant subsidiary.