Monocraft Products Company was founded in 1927 as a handbag monogram manufacturer in Providence, Rhode Island. In 1929 it began making costume jewelry under the Monet name but did not sign jewelry with "Monet" until late in 1937. Monet jewelry was of the finest craftsmanship and focused on metalwork, which was its forte. Intricate designs and exceptional quality made the label a sought after name. Monet was famous for developing advance earring clips for pierced and non-pierced earrings. The company changed ownership many times through the years until, finally, in 2000, the Monet label was purchased by Liz Claiborne Inc.
As of 2007 Monet is still owned by Liz Claiborne Inc. and is still being produced as quality costume fashion jewelry. The tradition of quality is still evident in the present label, and Monet is still a highly regarded label in the competitive marketplace.