By the late 1930s and prior to the war, they were importing sizeable amounts of tableware and giftware from Germany, Czechoslovakia, England, France, Belgium, Denmark, Italy, Finland, and Sweden.
Therefore, the reference to Queen Elizabeth is apparently referring to the current Queen's mother, also named Elizabeth and who was on the throne with her husband, King George VI, who reigned from 1937-1952.
Perhaps the painter was just trying to identify it on his/her own as having done the work for appears to have been a brand name used for marketing and exporting china.
They most likely special ordered their china from one of the German factories such as Schumann or Rosenthal who actually produced, decorated, and personalized it for , a decorating studio in business from 1869-1949 in Dresden, Germany.
Please remember that all of our items are Antique and Vintage and may or may not have the usual minimal utensil marks or slight wear from normal use.
Anything of significance is duly noted in our descriptions and photographed if possible.