AUSTIN ,Texas -- Yeti, a cooler and drinkware brand founded in Austin, has settled a lawsuit after accusing a competing brand of copying its product design.

In a statement released on Thursday, Yeti said that according to the binding settlement, RTIC Coolers, from the Houston area, and brothers John and Jim Jacobsen are "required to make a financial payment to Yeti; to cease sales of all products subject to the lawsuit – this includes hard-sided coolers, soft-sided coolers and drinkware; and to redesign all products in question."

In the first half of 2017, the popular Austin company is planning on opening its first flagship store on South Congress Avenue, KVUE's news partners at the Austin American-Statesman reported.

And as a part of a clever marketing ploy, the company plans to included a bar to serve cold mixed drinks and beer.