The invention provides an aqueous emulsion for use in a personal care, health care or household care composition. This emulsion comprises at least 1% by weight of a waxy material having a melting point of at least 10.5° C. and at least 1% by weight of an organopolysiloxane which is not miscible with the waxy material. The emulsion also contains an oil having a melting point below 10° C., the oil being miscible with the waxy material when melted and being present in a weight ratio of oil to waxy material in the range 5:95 to 95:5. This permits to obtain stable emulsion at low temperature.