RIH was founded in 1921 by Willem (Wim) and Joop Bustraan at Westerstraat 150 situated in the working-class neighborhood Jordaan, Amsterdam.

He then teamed up with Wim van der Kaaij who had learned the trade from an early age always helping in the shop as an apprentice.

Later, Cové acquired the right to sell normal bicycles under the brand name RIH on the market.

During his professional career, Peter Post only rode on frames built by Willem Bustraan (both on the track and road).

However, one of the founders noted in an interview that RIH was named after Kara Ben Nemsi's horse (from Arabic: fast as the wind), a character from the books of Karl May.