SAO PAULO, July 15 (Reuters) - The Brazilian cosmetic

maker Natura & Co should decide by the end of the

year whether to split its Avon brand outside Latin America,

Brazilian newspaper Estadao reported on Monday, citing sources

familiar with the matter.

Natura said in February it would study the split of the

business outside the region, known as Avon International,

without saying when these studies could be concluded.

Natura declined to comment.