8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported):   August 2, 2005

Avon Products, Inc.

(Exact name of registrant as specified in its charter)

New York	1-4881	13-0544597
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
1345 Avenue of the Americas
New York, New York 10105-0196
(Address of principal executive offices) (Zip Code)

(212) 282-5000

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

INFORMATION TO BE INCLUDED IN THE REPORT

Item 8.01 Other Events.

On August 2, 2005, Avon Products, Inc. issued a press release announcing an increase in share buyback as well as a declaration of a regular quarterly dividend on its common stock of $.165 per share. A copy of that press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits

Exhibit 99.1 Press Release of Avon Products, Inc. dated August 2, 2005

SIGNATURE

          Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	AVON PRODUCTS, INC.
		(Registrant)
	By:	/s/ Gilbert L. Klemann, II
		Gilbert L. Klemann, II
		Senior Vice President and General Counsel
Dated: August 2, 2005

(Page 3 of 3 Pages)

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press Release of Avon Products, Inc. dated August 2, 2005

EX-99.1

MEDIA:	INVESTORS:
Victor Beaudet	Renee Johansen
(212) 282-5344	Rob Foresti
	(212) 282-5320
Sharon Samuel
(212) 282-5322

AVON ANNOUNCES INCREASE IN SHARE BUYBACK

Company Intends to Repurchase An Additional $500 Million In Shares Before Year End

Regular Quarterly Dividend Also Declared

NEW YORK, N.Y., August 2, 2005 – Avon Products, Inc. (NYSE:AVP) today announced that its Board of Directors has authorized the company to buy back an additional $500 million of its common stock by the end of 2005, subject to market conditions. The company expects to fund the new program through the issuance of long-term debt.

     Avon said that the $500 million share repurchase plan is in addition to the company’s 2000-2005 buyback program, which has a remaining authorization of approximately $80 million, and the $1 billion five-year share repurchase plan announced in February 2005.

     The current share repurchase program is expected to conclude in the third quarter. Upon completion, Avon’s remaining share repurchase authorization will now be $1.5 billion, or almost 10% of the Company’s equity market capitalization.

     Avon also declared a regular quarterly dividend on its common stock of $.165 per share, payable September 1, 2005, to shareholders of record August 18, 2005.

      Avon is the world’s leading direct seller of beauty and related products, with $7.7 billion in annual revenues. Avon markets to women around the world through 4.9 million independent sales Representatives. Avon product lines include such recognizable brand names as Avon Color, Anew, Skin-So-Soft, Avon Solutions, Advance Techniques Hair Care, Avon Naturals, Mark, and Avon Wellness. Avon also markets an extensive line of fashion jewelry and apparel. More information about Avon and its products can be found on the company’s web site www.avoncompany.com.

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