Wenger said former Lyon forward Lacazette should be targeting a similar return, having scored 37 goals across all competitions in 2016-17 before his reported €60million switch.
A feast of goals opened the Premier League season as 2015-16 champions Leicester were denied victory in a stunning curtain-raiser at the Emirates. From Hector Bellerin's lay-off, Mohamed Elneny swept a first-time cross into the box and Lacazette deftly glanced a header past Kasper Schmeichel before spreading his arms to take the acclaim of the crowd.
The England global has twice scored scored the opener in this fixture, but is yet to be on the winning team.
Danny Welbeck levelled for Arsenal, but Vardy's second goal looked to have won it for Leicester until the sensational finale.
Two minutes later, Lacazette almost scored the go-ahead goal, showing patience deep in Leicester's box only to force a tough save by Schmeichel, who tipped it over the bar.
"The first goal was from a short corner and we were not focused enough".
Albrighton ran onto a poor Granit Xhaka pass and delivered a perfectly placed cross past Petr Cech into the path of Vardy, who could not miss from four yards.More news: Apollo Global Management, LLC (APO) PT Raised to $28.00
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Mahrez almost equalized less than two minutes later in sensational fashion, with his volleyed attempt off a set piece going tantalizingly wide of Petr Cech's goal.
Arsenal then had a penalty shout as Kolasanic's shot hit Onyine Ndidi's raised arm, but Mike Dean adjudged the Leicester man was too close to be able to react.
He added: "I have plenty of uncertainties about the players who didn't play against Chelsea".
It was the familiar championship-winning connection that did it, with Vardy heading home Mahrez's corner kick to beat Arsenal's zonal defensive approach and make it 3-2 to the Foxes in the 56th minute.
The Frenchman's thunderous header completed a thrilling comeback for Arsenal on the opening day of the season, and the idea that any suitors might lure Giroud away was met by "a determined no" from Wenger.
Giroud celebrates the late victor.