Riding Momentum

Hendra is gaining fast traction on his bicycle business.

- Ardian Wibisono

The COVID-19 pandemic created some anomalies in the economy. As manufacturing, in general, plunged as demand lag, chief economist at Bank Mandiri Andry Asmoro found interesting data showing hobby related spending increased a lot. Andry says higher-income people were spending on bicycles, plants, and toys, although the demand flattened again in September. One of the bicycle producers that enjoyed the spike in demand is PT Roda Maju Bahagia (RMB), which is known mostly for its Element folding bike brand. Hendra (39), owner and founder of RMB, says sales in 2020 were just shy of Rp 1 trillion, a four-fold increase compared to the previous year. However, Hendra's success is not merely an overnight windfall. For the past several years, he's been building up speed to catch up with other domestic top manufacturers like Polygon and United with catchy designs and out-of-the-box marketing strategies.

Back then, when people went to a bicycle store, they would look for the already established brand. But now, they come looking for Element, says Hendra.

The bicycle business has been in Hendra's family for a long time. His grandfather owns a bike spare part shop in Medan, and his father owns a bicycle retail shop in Jakarta. Yet, Hendra's entrepreneurial journey started with buying and selling used cars when he was studying at Tarumanegara University in 2000. Thinking already making good money, he even dropped out of his study. But business has its ups and downs. When the car business dimmed, Hendra got an idea to import ride-on kids' toys and tricycle. His father gave Rp 2.5 billion for him to start with - the Rp 1.5 billion was obtained from a loan using his father's store as collateral. Only in 2008, he began importing bicycles from China and branded them with his own brand: Element.