Jean-Paul Agon (pictured above) has now said that things such as pollution are good for business

The chief executive of beauty brand L'Oreal has claimed that pollution and social media platforms such as Instagram are 'good for business'.

Jean-Paul Agon said millennials are splashing the cash on cosmetics in order to try and replicate their digitally-enhanced selves.

The 41-year-old also said that pollution was good for business but that the brand was not actively 'encouraging it'.

Mr Agon is also the chairman of the company which works on brands such as Garnier and Maybelline.

Speaking to MarketWatch, asked about the French-listed companies views on the environment and if the rise in pollution was beneficial he said: 'Yes, but we are not encouraging it. ... Where there is pollution, we want to protect our consumers.

'When you live in a city your skin, your hair is challenged more than if you were living in a rural area, so you need more shampoos, conditioners, skin care, hydrating creams, anti-UV, etc.'

He added that urban living means socialising more and the more people socialise, the mopre they consume beauty products.

On the subject on Instagram he said that as millennials increasingly use filters to change their looks, they want to look the same as their altered image.

Mr Agon said the continuous use of Instagram and filters has meant more people are spending money on beauty products (pictured above a woman at The Selfie Factory in London)

'The more you make yourself look really great online, the more you have to work on yourself when you go out, because if, when people meet you, they discover that you are completely different from what they thought, then you have a problem.

'If they want to use filters to look better online, they have to do something in real life also to look better, and that is why they use more cosmetics, more makeup, more skin care, more everything.'

The stock features in many investment portfolios across the UK and abroad and Mr Agon said this is due to the nature of the beauty business.

'I would say that the beauty business is pretty immune to crisis.

'L'Oreal will be able to keep growing, keep developing, and keep increasing its profitability.'