How can the principles of thread creation and management be effectively utilized to optimize the performance of the Collection Framework in Java? Construct a comprehensive discussion exploring diverse strategies that leverage the Thread class or the Runnable interface to enhance functionality, efficiency, and reliability across key interfaces and classes within the Collection Framework. Additionally, organize and summarize the design principles inherent to the Collection Framework, elucidating its purpose, essential interfaces, and classes. Integrate the concept of multithreading to demonstrate how concurrent thread management can contribute to improved performance. Enrich the discussion with illustrative examples that highlight the advantages and challenges associated with integrating thread management techniques within the Collection Framework.