1. Management and system: The management and system of Chow Tai Fook's direct stores are more standardized and strict, and will be operated and managed according to the company's unified standards, while franchise stores have more autonomy and relatively flexible management and system, which can be adjusted and optimized according to market demand and the actual situation of stores.

2. Brand image: As a direct store of Chow Tai Fook, the direct store can better convey and display the brand image of Chow Tai Fook. Employees of direct stores will be trained in corporate culture and values, while franchisees need to be responsible for shaping and maintaining their brand image.