While I've never owned a Victorinox I have held/tried on several. On the other hand I've owned about 8 different Hamiltions; between these two product lines I feel that Hamilton overall brings more to the table.
I like both brands and have owned multiples of each. Quality is the same designs I give a slight edge to Victorinox for their military looks. Hamilton's designs sometimes are a little too over the top for me.No AR coating on many Hamiltons. I give a slight edge to Victorinox.
Victorinox is a well respected Swiss cutlery and fine instrument manufacturer with a long established history of excellence. They have been mass producing watches and watch parts under contract for other Swiss watch brands since the WWI era. They have been mass producing watches for several decades under their own brand name as well. So Victorinox is well placed among the officially approved Swatch customers for Eta ebauche and finished mechanical/automatic and quartz movements. They have a long established, valued business relationship with Swatch.
Both companies use the same quality unadjusted Eta mechanical/automatic ebauche movements to manufacture their respective watches. Any difference in accuracy stems from how good a job the terminuers do when adjusting the finished movements after case up and/or finished watch production. The Eta movements in either brand are generally capable of being adjusted to the same level of excellent accuracy as are most all Eta movements made today.
FYI, officially Eta has a policy of no longer selling ebauche and/or finished movements to unapproved Swiss and non-Swiss based watch producers (like Invicta et al). However, Swatch has an unofficial policy of indirectly marketing limited amounts of ebauche and/or finished automatic movements to non-approved buyers through Victorinox. This allows Swatch to unofficially sell sufficiently large enough quantities of various ebauche movements to both Swiss and non-Swiss based companies who otherwise would not be allowed to buy them. Doing so allows these unapproved companies to produce large enough production runs of watches to remain profitable. It also allows Swatch to be competative with Asian movement manufacturers on a global scale while remaining in the good graces of the rest of the Swiss watch industry. In short, it's politics.
PS, a short while back during anShopNBC watch show, Wing Liang devulged that Seagull has been producing movement blanks for various Swiss watch movement manufacturers. This is not news to me. I've known for a whilethat this has been going on sincethe mid to late 1970's after theso called "quartz watch revolution" which Seiko introducednearly ruined the Swiss watch industry. In short, if youcan't lick 'em, joint 'em (or at least take advantage of'em).
I have never owned any Hamiltons....yet, but for me my Victorinox are the cheapest watches I have ever bought yet the quality blows me away every time I strap mine on. I will never sell them. I think they are amount the best deals out there. As one said before me the AR sapphire crystals add a lot to the watch too.