I just discovered this French band called Alcest, it is a one man band from the singer of Peste Noire (a french Black Metal band). Suprisingly Alcest is total shoegaze (or at least the song I've heard). They sound kind of TOO sugary to me to be honest, but it fulfills my fix of melancholic sad music. Worth cheking out at least.
http://www.myspace.com/alcestmusic