The company Ballets Russes de Monte-Carlo was formed in 1932 after the death of Sergei Diaghilev and the demise of Ballets Russes. Its director was Wassily de Basil, and its artistic director was René Blum. They fell out in 1936 and the company split. The part which de Basil retained went through two name changes before becoming the Original Ballet Russe. Blum founded Les Ballets de Monte Carlo, which changed its name to Ballet Russe de Monte Carlo when Léonide Massine became artistic director in 1938. It operated under this name until it disbanded some 20 years later.

The Original Ballet Russe was a ballet company established in 1931 by René Blum and Colonel Wassily de Basil as a successor to the Ballets Russes, founded in 1909 by Sergei Diaghilev. The company assumed the new name Original Ballet Russe after a split between de Basil and Blum. De Basil led the renamed company, while Blum and others founded a new company under the name Ballet Russe de Monte-Carlo. It was a large scale professional ballet company which toured extensively in Europe, Australia and New Zealand, the United States, and Central and South America. It closed down operations in 1947.