The short answer is Yes.
Here are some of the details. You start with a crystal for the representation. You don't need to specify which model you are taking. When you take a tensor product a subset of the vertices of the crystal give highest weight vectors. The rule is a simple rule depending on the depth (or rise) of the vertex.
For the fundamental representation this is particularly straightforward.
If you want to get started with crystals, a good place to begin is:
MR1881971 (2002m:17012) Hong, Jin ; Kang, Seok-Jin . Introduction to quantum groups and crystal bases. Graduate Studies in Mathematics, 42. American Mathematical Society, Providence, RI, 2002. xviii+307 pp. ISBN: 0-8218-2874-6
This does not discuss the tensor product rule you asked for. The original reference for for the general tensor product rule is:
MR0225936 (37 #1526) Parthasarathy, K. R. ; Ranga Rao, R. ; Varadarajan, V. S. Representations of complex semi-simple Lie groups and Lie algebras. Ann. of Math. (2) 85 1967 383--429.
This tensor product rule requires further notation. The advantage is that multiplicities are calculated directly without any cancelation.