Android wear has much more variety.
Right off the bat, you have many more Android Wear options because a bunch of different companies have taken their own shot at an Android-powered smartwatch, including Motorola, LG, Huawei, Samsung, and Sony. There are 8 different designs so far.
...Including circular designs if you don't dig the Apple Watch's square screen. You can get a more traditional-looking round watch with the Moto 360 or the LG G Watch R.
You also have much more freedom about what band you get. For now, if you want an Apple Watch you have to buy one of the company's bands. Most Android Wear watches use industry standard 22 mm bands so you can choose almost anything.
Google is better at serving you up contextual info than Apple is.
Google is aware of your location and digs through your email so it can serve you up a bunch of helpful tips, like when you have to leave to get to a scheduled meeting, whether it will rain later in the day, if your flight is on time, or where to get tickets if a band you love is coming to your city. Google really focuses on giving you the right information at the right time and place.
Android Wear will save you money. Apple's cheapest version of its smartwatch starts at $350. You can get a Android Wear smartwatch for as little as ~$159.
Unlike the Apple Watch which is back-ordered until this summer if you didn't already buy, you can actually buy an Android Wear watch right now.
Android wear might soon be phone-agnostic.
Google is building support for the iPhone into Android Wear, The Verge's Dieter Bohn reported last week. That would be great for anyone who has an iPhone and isn't wild about the Apple Watch, and would ensure that if you have an Android phone but eventually make the switch to iOS, your watch wouldn't become a brick.
The Apple Watch's battery only lasts about 18 hours, compared to 24 hours with the Moto 360 and almost two days with the Sony Smartwatch. Some Android Wear watches also have wireless charging, which the Apple Watch doesn't.
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