The Gunners sit at the top of the Premier League after taking 16 points from their opening seven games, while the club also have a strong footing in their Champions League group after beating Marseille and Napoli.
Arsenal broke their transfer record in order to complete a €50 million deal for Mesut Ozil in the summer transfer window and, following the Germany international's impressive start, Pires believes that Wenger must continue to bolster his side.
"If you look at all the successful clubs who won titles and trophies, they always buy after they have been successful," the Frenchman was quoted as saying by the Sunday Mirror.
"There is no question that Arsenal are at a high level at this moment. They are playing to the kind of football played during my time at the club. And Ozil – well, he is world-class.
"But their appears to be a new financial philosophy at Arsenal now. Arsene can spend money, more than he has been able to do before and I believe he should add to the squad when he can."
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