I believe both Victorinox and Wenger are authorized makers of Swiss Army stuff. Victorinox seems to be the more prevalent of the two (it is the one with a shield-shaped logo - Wenger's is a square with rounded corners), but IMO Wenger makes better knives (they have much nicer, serrated scissors with a much more robust cam mechanism rather than a flat spring, and the knives all have locking main blades).
They both make watches. The main, Swiss Army-brand ones are made under license from Victorinox, and Wenger makes them as well. The Wengers are cheaper but the original Swiss Army/Victorinox ones seem a bit nicer.