Emery made some solid signings last summer, namely defensive midfielder Lucas Torreira and goalkeeper Bernd Leno.
But the Gunners were still found lacking in various areas, particularly at the end of the season when they fell out of the top-four and lost the Europa League final 4-1 to rivals Chelsea.
While in charge of Paris St-Germain, Emery had a virtually bottomless pit of money to spend on the likes of Neymar and Julian Draxler.
Missing out on the Champions League for the third consecutive year means Arsenal are reportedly restricted to a transfer budget of £45m this summer.
And Crystal Palace talisman Wilfried Zaha has emerged Emery’s number one target since the window opened in May.
On Monday Arsenal made an opening offer of £40m which incensed the Eagles, who rate their man at around double that price.
Whether the Gunners can up their bid or sweeten the deal by offering Palace the likes of Calum Chambers remains to be seen.
The factor that could work in the Gunners’ favour is that Zaha seems determined to leave Selhurst Park and play at a higher level.
Arsenal have also held talks with three other wingers since the window opened.
Bournemouth’s Ryan Fraser has Premier League experience and would certainly come cheaper than Zaha, although the Cherries are still asking for around £30m.
The Scotland international was an assist-machine last season and could potentially provide goals by the bucketload for Pierre-Emerick Aubameyang.
Yannick Carrasco was heavily linked with a Gunners switch in recent weeks as he looked to escape the Chinese Super League.
Talk seems to have gone quiet on that front however, and the Belgian appears to have smoothed things over with current club Dalian Yifang.
Porto attacker Yacine Brahimi’s name came out of the blue at the weekend, when reports from Algeria claimed that Arsenal were set to sign the free agent.
Furthermore, the Gunners have had two bids turned down for Celtic’s highly-rate youngster Kieran Tierney.
But BBC reporter David Ornstein suggested yesterday that Napoli are now ahead of Arsenal in the race to sign the left-back.
Central defender Willam Saliba, 18, of Saint-Ettine is also on Emery’s hitlist, as is his former PSG midfielder Christian Nkunku.