The guests needed only 10 minutes to regain their lead after the restart as Vardy headed in Riyad Mahrez's cross to score his side's third goal and complete his brace.
"Even people will say we conceded three goals, yes, but we scored four as well and the game was of quality". But three points are three points, and Arsene Wenger will surely be happy to take them into next Saturday's match at Stoke City. "We put ourselves in a commanding position and a few lapses in concentration have cost us", Vardy said after the game. "They all deserve to play".
Leicester boss Craig Shakespeare also talking to Sky Sports: "We spoke about being compact and being a threat with the pace of Vardy". We want him to be a nuisance. We have many games and hopefully I can give games to all the strikers. Despite the poor play throughout the match Arsenal did just that. We showed what we're capable of, showed heart and spirit. "With a bit of work we can get that out of the system".
The fans will hope that the striking symbolism - Lacazette scoring Arsenal's and the EPL's first goal of the season on his debut - is an omen for good things to come this season.
I just think he's got too much criticism and it's not his fault.
Okazaki almost made Arsenal's first half even more galling but he could only head narrowly wide with the home defence all over the place.
At the dying embers of the first half, a bouncing ball off a Lacazette blocked shot landed on Kolasinac's feet and he squared the ball to Danny Welbeck who scored a crucial equalizer for Arsenal to make it 2-2.
Schmeichel was alert to prevent Hector Bellerin finishing off a slick Arsenal attack.
Vardy had the opportunity to join Arsenal after Leicester's title-winning campaign, but he remained and made Arsenal pay with his textbook one-time finish in the 29th minute. "One was a corner, one on build-up, one on a corner again", he said.
It was the ideal way to seal an enthralling game that had threatened to end in defeat for the home side.