"We're looking at ways of writing 'Kanye West'," Saville told Dezeen after the talk, held at the V&A museum as part of the London Design Festival. "What does 'Kanye' and 'Kanye West' look like written down?"
The designer added the collaboration was open-ended, rather than a commission to design a logo or a specific artwork. "It's very casual," he said.
During the talk Saville, who is best-known for his 1980s record covers for bands including New Order and Joy Division, explained how he had discussed the project earlier that day with West, who is in London rehearsing for a performance.
The two talked about Adolphe Mouron Cassandre's iconic 1961 logo for Yves Saint Laurent, featuring the overlapping letters YSL, Saville said. "He said to me: 'You're Cassandre'," he told Dezeen. "He wants a YSL".
Kanye West is an avid follower of architecture and design. In 2006 he commissioned minimalist architect Claudio Silvestrin to design his Manhattan apartment, and ordered pieces by designers including the Campana Brothers, Yves Behar and Maarten Baas to furnish it.
"He loves architecture and design, he loves Le Corbusier," Saville said. "He'd get Le Corbusier to do a building for him if he could."
Last year, West commissioned architects OMA to build a temporary, seven-screen cinema to host the preview of his first short film.
Saville is the recipient of this year's London Design Medal. He will receive the award at a ceremony on Wednesday. Read our earlier story for more about the award, and for more details of the conversation with Morley.
Sign up for a daily roundup
of all our stories